Jeera futures up on tight supply, spot demand

Jeera futures prices today rose by Rs 71 to Rs 13,149 per 100 kg, as speculators created speculative positions, driven by dwindling stocks, following tight supplies amid pick up in spot demand.

However, expectations of rising acreage in the upcoming sowing season, capped gains. 

At the National Commodity and Derivatives Exchange counter, jeera for delivery in December traded up by Rs 71, or 0.54 per cent, to Rs 13,149 per 100 kg, with an open interest of 11,583 lots.

Similarly, the November contract moved up by Rs 67, or 0.52 per cent, to Rs 12,940 per 100 kg, with an open interest of 12,603 lots.

 

Analysts said dwindling stocks following poor supplies in the spot markets, mainly influenced jeera futures prices here, but an expected rise in acreage in the top producing state of Gujarat, limited gains.