Jeera futures rise 0.40% on spot demand, lower stocks

Supported by spot demand and diminishing stocks, jeera prices gained Rs 58 to Rs 14,436 per quintal in futures trade today.

However, weak exports restricted the gains.

At the National Commodity and Derivatives Exchange counter, jeera for February delivery gained Rs 58, or 0.40 per cent, to Rs 14,436 per quintal with an open interest of 12,231 lots.

Similarly, the spice for delivery in January inched up by Rs 34, or 0.24 per cent, to Rs 14,130 per quintal with a business turnover of 12,339 lots.

Market analysts said besides a pick-up in demand in the spot market, lower availability due to delayed sowing in Gujarat influenced jeera futures prices here.