Jeera futures surge 1.76% on upsurge in demand

Jeera prices shot up by 1.76 per cent to Rs 17,960 per quintal in futures trade today as traders raised their bets on the back of rising domestic as well as exports demand in the spot market in the spot market.
Besides, expectations of lower output also fuelled the uptrend.
At the National Commodity and Derivatives Exchange, jeera for delivery in far-month June climbed Rs 310, or 1.76 per cent to Rs 17,960 per quintal with an open interest of 16,743 lots.
Similarly, the spice for delivery in May contracts traded higher by Rs 305, or 1.75 per cent to Rs 17,720 per quintal in 11,184 lots.

Analysts said raising of bets by speculators, driven by strong domestic spot as well as exports demand against restricted supplies from producing belts mainly led an upward movements in jeera prices at futures trade.