Jeera futures rise 0.53% on pick-up in demand

Jeera prices went up by 0.53 per cent to Rs 20,500 per quintal in futures trade today as speculators created fresh positions, driven by pick-up in demand from stockists and overseas enquiries.

Besides, tight stock positions following restricted arrivals from the growing regions,too, fuelled the uptrend.

At the National Commodity and Derivatives Exchange, jeera for delivery in September rose by Rs 110, or 0.53 per cent, to Rs 20,500 per quintal, with an open interest of 7,773 lots.

Likewise, delivery for October was trading higher by Rs 75, or 0.36 per cent, to Rs 20,750 per quintal as the open interest of contract stood at 1,792 lots.

 

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