Jeera futures climb Rs 385 on robust demand

Jeera prices jumped by Rs 385 to Rs 21,700 per quintal in futures trade today as speculators created fresh bets, driven by pick-up in demand from stockists and overseas enquiries.
Furthermore, tight stocks position following restricted arrivals from growing regions fuelled the uptrend.
In futures trading at the National Commodity and Derivatives Exchange, jeera for delivery in January rose by Rs 385, or 1.80 per cent, to Rs 21,700 per quintal, with an open interest of 12,540 lots.
Likewise, the contract for March was trading higher by Rs 350, or 1.97 per cent, at Rs 18,040 per quintal with an open interest of 5,067 lots.

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