Jeera futures rise on firm spot cues

However, expectations of a bumper crop capped gains

Jeera prices gained Rs 105 to Rs 11,915 per quintal in futures trading today as speculators extended their positions, driven by firming trend in the spot markets.

However, expectation of a bumper crop in key producing areas this year restricted the gains.

At the National Commodity and Derivatives Exchange, jeera for delivery in April rose by Rs 105, or 0.89%, to Rs 11,915 per quintal, with an open interest of 1,872 lots.

Similarly, the May contract moved up by Rs 67.50, or 0.56%, to Rs 1,242.50 per quintal in 15,348 lots.

Analysts said, a firming trend at the spot markets due to improved demand in the ongoing marriage season mainly helped jeera futures prices to trade higher.