Jeera gains 1.17% on strong demand

Strong domestic domestic demand against restricted supplies moves prices up

Jeera prices moved up by Rs 182.50 to Rs 15,825 per quintal in futures trade today on strong domestic domestic demand against restricted supplies.

Weak monsoon rains, which could hit sowing operations and crop output also influenced jeera prices.

At the National Commodity and Derivatives Exchange, the August contract for jeera rose by Rs 182.50, or 1.17%, to Rs 15,825 per quintal with an open interest of 17,424 lots.

The September contract moved up by Rs 175, or 1.09%, to Rs 16,210 per quintal in 12,774 lots.

Marketmen said besides strong domestic and overseas demand, thin supplies from producing belts pushed up jeera prices at futures trade.