Jeera futures extend gains by 2.18% on spot demand

Jeera prices spurted by 2.18 per cent to Rs 19,660 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 following damage to crop at growing belts due to floods too fuelled the uptrend.
At the National Commodity and Derivatives Exchange, jeera for September increased by Rs 420, or 2.18 per cent, to Rs 19,660 per quintal, with an open interest of 10,890 lots.
Likewise, the spice for this month contract traded higher by Rs 400, or 2.10 per cent, to Rs 19,430 per quintal in 6,144 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.