Jeera futures soar by 1.22% on good spot demand

Jeera prices surged by 1.22 per cent to Rs 19,425 per quintal in futures trade today as speculators enlarged positions on the back of rising demand in the spot market.
Besides, tight stocks position following drop in arrivals from producing belts due to rain in Gujarat, too fuelled the uptrend.
At the National Commodity and Derivatives Exchange, jeera for delivery in August climbed by Rs 235, or 1.22 per cent to Rs 19,425 per quintal with an open interest of 8,844 lots.
Similarly, the spice for delivery in September contracts was trading higher by Rs 210, or 1.08 per cent to Rs 19,630 per quintal in 8,268 lots.

Traders said widening of positions built up by participants amid pick-up in domestic as well as export demand in the physical market mainly led to the sharp rise in jeera prices at futures trade.