Uptick in spot demand lifts jeera futures by 1.56%

Jeera prices rose by Rs 295, or 1.56 per cent to close at Rs 19,150 per quintal in futures market today after participants widened their positions following rising domestic as well as export demand at the spot market.
Moreover, reports of lower arrivals in Gujarat too fuelled the uptrend.
At the National Commodity and Derivatives Exchange, jeera for delivery in current month rose by Rs 295, or 1.56 per cent, to finish at Rs 19,150 per quintal, with an open interest of 408 lots.
Likewise, the spice for delivery in September traded higher by Rs 205, or 1.06 per cent, to close at Rs 19,525 per quintal in 15,039 lots.

Traders said speculative positions built up by participants amid pick up in domestic market as well as export demand, mainly led to the rise in jeera prices in futures trade.