Uptick in spot demand lifts jeera futures by 3.40%

Jeera prices rose by 3.40 per cent to close at Rs 19,150 per quintal in futures market today on account of increased buying by retailers and stockists at the spot market and reports of less carryover stocks.
Furthermore, fall in supplies from producing belts and some export enquiries too supported the uptrend.
At the National Commodity and Derivatives Exchange, jeera for delivery in August rose by Rs 630, or 3.40 per cent, to close at Rs 19,150 per quintal, with an open interest of 13,518 lots.
Likewise, the spice for delivery in current month traded higher by Rs 620, or 3.34 per cent, to end at Rs 19,200 per quintal in 1,713 lots.

Traders said speculative positions built up by participants amid pick up in domestic as well as export demand and reports of less carryover stocks, mainly led to the rise in jeera prices in futures trade.