Supported by restricted arrivals from growing regions and strong spot demand jeera prices rose further by Rs 80 to Rs 18,030 per quintal in futures trade today, as speculators engaged in enlarging positions.
At the National Commodity and Derivatives Exchange, jeera for delivery in May month contracts was up by Rs 80, or 0.45 per cent to Rs 18,030 per quintal with an open interest of 192 lots.
In a similar fashion, the spice for delivery in June moved up by Rs 40, or 0.22 per cent to Rs 18,540 per quintal in 23,952 lots.
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Analysts said rise in jeera prices at futures trade was mostly supported by restricted supplies in the physical markets and some export enquiries.
Meanwhile, gobal output of Jeera is around 2.2 lakh MT per year, of which India produces about 1.5 lakh MT per year.
