Jeera futures spurt 1.46% on fall in arrivals

Jeera futures prices today spurted by Rs 202.50 to Rs 14,065 per quintal on pick-up in demand in the spot market amid fall in arrivals from producing region.

Weak monsoon rains in Gujarat state, the leading producer also supported the upside in the spice.

At the National Commodity and Derivatives Exchange, jeera for delivery in July month spurted by Rs 202.50, or 1.46%, to Rs 14,065 per quintal, with an open interest of 4,584 lots.

Similarly, the spice for delivery in August jumped up by Rs 185, or 1.29%, to Rs 14,552.50 per quintal in 21,225 lots.

Analysts said besides pick-up in spot demand, less arrivals from producing regions mainly led an upsurge in jeera prices at futures trade.