Jeera futures extend gains by 1.56% on spot demand

Jeera prices spurted by another 1.56 per cent to close at Rs 20,200 per quintal in futures trade today as participants created fresh positions, driven by upsurge in good export demand at the spot market.
Moreover, low stock position following restricted arrivals from producing regions in Gujarat and Rajasthan due to heavy rains too supported the uptrend.
At the National Commodity and Derivatives Exchange, jeera for this month increased by Rs 310, or 1.56 per cent, to close at Rs 20,200 per quintal, with an open interest of 1,257 lots.
Likewise, the spice for August traded higher by Rs 155, or 0.78 per cent, to finish at Rs 19,990 per quintal in 14,217 lots.

Marketmen attributed persistent rise in jeera to pick up in domestic as well as export demand amid tight supplies from growing regions, mainly led to the rise in jeera prices at futures trade.