Upsurge in demand lifts Jeera futures spurt by 2.03%

Jeera prices flared up by 2.03 per cent to Rs 16,300 per quintal in futures trading today as participants enlarged positions, taking positive cues from spot market on rising demand.
Besides, tight stocks position in the physical market on restricted supplies from producing regions supported the upside.
At the National Commodity and Derivatives Exchange, jeera for delivery in far-month May climbed Rs 325, or 2.03 per cent to Rs 16,300 per quintal with an open interest of 15,336 lots.
In a similar fashion, the spice for delivery in April was trading higher by Rs 285, or 1.80 per cent to Rs 16,155 per quintal in 270 lots.

Analysts said widening of positions by traders on the back of surging domestic as well as exports demand in the spot market against restricted supplies from producing regions mainly kept jeera prices higher at futures trade.