Jeera up on firm spot market demand

Jeera prices rose 0.52% to Rs 14,925 per quintal in futures trade today as speculators hiked positions tracking a firm spot market trend on pick up in demand.

At the National Commodity and Derivatives Exchange, the December contract for jeera gained Rs 77.50, or 0.52%, to Rs 14,925 per quintal, with an open interest of 16,323 lots.

The March contract traded higher by Rs 70, or 0.45%, to Rs 15,710 per quintal, with an open interest of 4,635 lots.

Market participants said fresh positions created by speculators on the back of a rise in demand in the spot market amid a better trend at the producing region Unjha, Gujarat, mainly influenced jeera futures.