Jeera futures rise 2% on pick up in demand

Jeera prices surged by 2.07 per cent to Rs 17,015 a quintal in futures trade today as speculators built up fresh positions amid pick up in demand at the domestic spot market.
Besides, tight stocks position on restricted supplies from producing regions supported the upmove.
At the National Commodity and Derivatives Exchange, jeera for delivery in April month shot up by Rs 345, or 2.07 per cent, to Rs 17,015 per quintal with an open interest of 6,744 lots.
On similar lines, the spice for delivery in March contracts traded higher by Rs 325, or 1.94 per cent, at Rs 17,120 per quintal in 2,334 lots.

Fresh positions built up by participants following pick up in domestic as well as export demand at the spot market against restricted supplies from producing regions, mainly pushed up jeera prices at futures trade, traders said.