Jeera up over 1% on short-covering

Pick up in spot demand helps uptrend

Jeera prices shot up by 1.13% to Rs 15,700 per quintal in futures market today as speculators covered-up their pending short positions.

At the National Commodity and Derivatives Exchange, jeera for delivery in September gained Rs 175, or 1.13%, to Rs 15,700 per quintal, with an open interest of 19,224 lots.

October jeera traded higher by Rs 177.50, or 1.11%, to Rs 16,110 per quintal in 15,201 lots.

Marketmen said covering-up of short positions by speculators amid pick up in spot demand helped jeera futures to trade higher.