Jeera futures rise 0.50% as demand picks up

Amid pick up in domestic demand at spot market and restricted supplies from producing regions, jeera prices edged higher by 0.50 per cent to Rs 14,055 per quintal in futures trade today as traders built up fresh positions.
Furthermore, exports enquiries supported the upside.
At the National Commodity and Derivatives Exchange, jeera for delivery in January rose by Rs 70, or 0.50 per cent, to Rs 14,055 per quintal, with an open interest of 3,684 lots.
On similar lines, the spice for delivery in far-month March traded higher by Rs 35, or 0.24 per cent, to Rs 14,360 per quintal in 5,553 lots.

Analysts said apart from pick up in demand in the spot market, restricted supplies from producing belts led to rise in jeera prices at futures trade.