Jeera gains 1.18% on firm demand

Thin supplies support uptrend

Supported by a firm spot market demand and thin supplies from producing belts, jeera prices rose by Rs 182.50 to Rs 15,585 per quintal in futures trade today on fresh offtake by speculators.

At the National Commodity and Derivatives Exchange, jeera for delivery in November rose by Rs 182.50, or 1.18%, to Rs 15,585 per quintal, with an open interest of 14,886 lots.

October jeera gained Rs 130, or 0.86%, to Rs 15,300 per quintal, with an open interest of 69 lots.

Marketmen said apart from a firm trend at the spot market on strong demand, thin supplies from the producing belts pushed up jeera prices at futures market.