Jeera futures edge higher on rising demand

Jeera prices rose by Rs 115 to Rs 13,575 per quintal in futures market today after participants widened their positions backed up by rising demand.
In addition, pick up in export enquiries too supported the move.
At the National Commodity and Derivatives Exchange, jeera for delivery in March rose by Rs 115, or 0.85 per cent, to Rs 13,575 per quintal with an open interest of 7,053 lots.
Likewise, the spice for delivery in April traded higher by Rs 110, or 0.81 per cent, to Rs 13,725 per quintal in 2,844 lots.
Analysts said huge positions created by speculators after pick up in domestic as well as export demand in the spot market, mainly led to the rise in jeera prices at futures trade.

They said, however, expectations of higher output at major producing belts, capped some gains.