Jeera futures climb Rs 425 per qtl on rise in demand

Jeera prices went up by a whopping Rs 425 to Rs 21,725 per quintal in futures trade today as speculators created fresh positions, driven by pick- up in demand from stockists and overseas enquiries.

Furthermore, tight stocks position following restricted arrivals from the growing regions fuelled the uptrend.

In futures trading at the National Commodity and Derivatives Exchange, jeera for delivery in the current month rose by Rs 425, or 2 per cent, to Rs 21,725 per quintal, with an open interest of 4,905 lots.

Likewise, the contract for January was trading higher by Rs 425, or 1.99 per cent, at Rs 21,790 per quintal with an open interest of contracts of 8,913 lots.
 

Traders said speculative positions built up by participants amid rising domestic as well as export demand, mainly led to the rise in jeera prices at futures trade.