Jeera up 0.34% on tight supply

Pick up in domestic demand fuels uptrend

Jeera prices added Rs 47.50 to Rs 13,860 per quintal in futures trading today as speculators enlarged positions, tracking a rising trend in the spot markets on good demand against thin supply.

At the National Commodity and Derivatives Exchange, jeera for delivery in November rose by Rs 47.50, or 0.34%, to Rs 13,860 per quintal, with an open interest of 17,214 lots.

October jeera edged up by Rs 20, or 0.15%, to Rs 13,620 per quintal, with an open interest of 8,337 lots.

Marketmen said besides pick up in demand in the spot market, limited arrivals from producing belts strengthened jeera prices at futures trade.