Jeera futures up on tight supply, spot demand

Jeera futures prices rose by Rs 61 to Rs 15,700 per quintal today, as speculators enlarged their positions on pick up in demand in the spot.

Restricted arrivals from producing region further fuelled uptrend.

At the National Commodity and Derivatives Exchange, jeera prices for delivery in April rose by Rs 61, or 0.39 per cent, to Rs 15,700 per quintal, with an open interest of 1,101 lots.

Similarly, the spice for delivery in January gained Rs 29, or 0.20 per cent, to Rs 14,649 per quintal, with a trade volume of 2,331 lots.

Market analysts said fresh positions created by speculators, supported by tight supplies in the market, influenced jeera prices at futures trade here.