Jeera futures gain 0.71% on pick up in demand

Jeera prices were up by 0.71 per cent to Rs 17,070 per quintal in futures trade today as participants widened their bets backed by upsurge in demand in the spot market.
At the National Commodity and Derivatives Exchange, jeera for delivery in March rose by Rs 120, or 0.71 per cent, to Rs 17,070 per quintal, with an open interest of 4,944 lots.
Likewise, the spice for delivery in April traded higher by a similar margin to Rs 17,005 per quintal in 2,922 lots.
Analysts said widening of positions by participants amid pick-up in domestic as well as export demand in the spot market, mainly led to the rise in jeera prices at futures trade.