Jeera futures rise 0.70% on uptick in demand

Jeera prices went up by 0.70 per cent at Rs 16,605 per quintal in futures trade today as speculators created fresh positions, driven by pick-up in demand from stockists and overseas enquiries.
Furthermore, tight stock positions following restricted arrivals from the growing regions, fuelled the uptrend.
In futures trading at the National Commodity and Derivatives Exchange, jeera for delivery in March rose by Rs 115, or 0.70 per cent, at Rs 16,605 per quintal, with an open interest of 10,440 lots.
Likewise, the contract for April was trading higher by Rs 90, or 0.53 per cent, at Rs 16,915 per quintal with an open interest of contracts of 1,791 lots.

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