Jeera up 0.55 pc on rising domestic demand

Jeera prices increased by Rs 105, or 0.55 per cent, to Rs 19,300 per quintal in futures trade Monday on higher bets, tracking a firm trend at the spot market in the wake of rising domestic demand.

Further, tight stocks position following restricted arrivals from the growing regions fuelled the uptrend.

At the National Commodity and Derivatives Exchange, jeera for delivery in the current month rose Rs 105, or 0.55 per cent, to Rs 19,300 per quintal with an open interest of 4,255 lots.

On similar lines, rates for November were trading higher at Rs 19,390, up by 0.47 per cent, or Rs 90 per quintal with an open interest at 5,211 lots.

Analysts said the rise in jeera prices in futures trade was supported by increased buying by retailers and stockists at the spot market amid restricted supplies from producing regions.