Jeera futures surge 3.89 pc on strong demand

Jeera prices surged by 3.89 per cent to Rs 13,635 per quintal in futures trade today as speculators enlarged positions, supported by rising demand in the spot market.
Besides, tight stocks position in the physical market on restricted arrivals from producing belts influenced the upside.
At the National Commodity and Derivatives Exchange, jeera for delivery in January next year spurted by Rs 510, or 3.89 per cent to Rs 13,635 per quintal with an open interest of 8,148 lots.
Similarly, the spice for delivery in December contracts shot up by Rs 335, or 2.59 per cent to Rs 13,250 per quintal in 60 lots.

Analysts said speculators enlarged positions on the back of rising demand in the spot market, attributing sharp rise in jeera prices at futures trade.