Jeera futures extend gains, climb 1.17% on rising demand

Continuing its rising streak for the second day, jeera prices advanced by 1.17 per cent to Rs 18,665 per quintal in futures trading today as participants engaged in enlarging positions, taking positive cues from spot market on strong demand.
Furthermore, tight stocks position on restricted supplies from producing regions fuelled the uptrend.
At the National Commodity and Derivatives Exchange, jeera for delivery in far-month August strengthened by Rs 215, or 1.17 per cent to Rs 18,665 per quintal with an open interest of 13,137 lots.
Similarly, the spice for delivery in July contracts traded higher by Rs 200, or 1.10 per cent to Rs 18,380 per quintal in 12,723 lots.

Analysts said besides pick upin demand in the spot market, tight stocks position on restricted supplies from producing belts, mainly kept jeera prices higher at futures trade.