Jeera up 0.5% on spot demand

However, higher supplies, weak exports cap gains even as speculators create fresh positions

Jeera rose by Rs 77.50 to Rs 15,300 per quintal in futures trade today as speculators created fresh positions, driven by improvement in spot market demand.

However, increased supplies and weak export restricted the gains.

At the National Commodity and Derivatives Exchange, jeera for delivery in March rose by Rs 77.50, or 0.51 per cent, to Rs 15,300 per quintal with an open interest of 7,917 lots.'

The December contract traded higher by Rs 37.50, or 0.26 per cent to Rs 14382.50 per quintal in 14,058 lots.

Market analysts said fresh buying by speculators, driven by an improvement in spot market demand mainly helped jeera prices to trade higher at futures market.