Uptick in demand lifts jeera futures by 1.24 pc

Jeera prices went up by 1.24 per cent to Rs 13,490 per quintal in futures trade today as traders created fresh positions after upsurge in demand in the spot market.
However, expectations of bumper crop this year due to good weather conditions across Gujarat and Rajasthan capped the rise.
At the National Commodity and Derivatives Exchange, jeera for delivery in far-month April rose by Rs 165, or 1.24 per cent, to Rs 13,490 per quintal with an open interest of 2,685 lots.
Likewise, the spice for delivery in March contracts traded higher by Rs 155, or 1.18 per cent to Rs 13,345 per quintal in 7,050 lots.

Analysts said fresh positions built up by participants on the back of pick up in demand in the spot market mainly led to the rise in jeera prices in futures trade.