Jeera futures climb 2% on pick-up in demand

Jeera prices spurted by 2 per cent to Rs 18,945 per quintal in futures trade today as participants created fresh positions, driven by pick-up in demand from stockists and overseas enquiries.
Furthermore, tight stocks position following restricted arrivals from the growing regions too fuelled the uptrend.
At the National Commodity and Derivatives Exchange, jeera for delivery in June rose by Rs 370, or 2 per cent, to Rs 18,945 per quintal, with an open interest of 216 lots.
Likewise, the contract for July delivery was higher by Rs 360, or 1.93 per cent to trading at Rs 18,965 per quintal, the open interest of contract stood at 13,341 lots.

Traders said speculative positions built up by participants amid pick up in domestic as well as export demand, mainly led to the rise in jeera prices at futures trade.