Jeera futures hit upper circuit, climb 3.98%

Jeera prices spurted by 3.98 per cent to hit upper circuit to close at Rs 21,145 per quintal in futures trade today as participants created fresh positions, driven by pick-up in demand from stockists and overseas enquiries.
Furthermore, negligible stocks position following restricted arrivals from the growing regions too fuelled the uptrend.
At the National Commodity and Derivatives Exchange, jeera for delivery in December spurted by Rs 810, or 3.98 per cent, to close at Rs 21,145 per quintal, with an open interest of 15,135 lots.
Likewise, the contract for January next year delivery was higher by Rs 790, or 3.98 per cent to trading at Rs 20,575 per quintal, the open interest of contract stood at 2,004 lots.

Traders said speculative positions built up by participants amid pick up in domestic as well as export demand and negligible stocks position, mainly led to the rise in jeera prices at futures trade.