Strong spot demand lifts jeera futures prices, climb 1.86%

Jeera prices were up 1.86 per cent to Rs 15,060 per quintal in futures trade today as traders widened positions, supported by strong domestic as well as exports demand in the spot market.
Besides, tight stocks position in the physical market on restricted supplies from growing regions fuelled the uptrend.
At the National Commodity and Derivatives Exchange, jeera for delivery in August month shot up by Rs 275, or 1.86 per cent to Rs 15,060 per quintal with an open interest of 918 lots.
Similarly, the spice for delivery in September contracts traded higher by Rs 180, or 1.19 per cent to Rs 15,355 per quintal in 18,777 lots.

Market analysts attributed the sharp rise in jeera futures prices to strong demand in the spot market against limited arrivals from producing belts.