Jeera up 0.6% on pick up in spot demand

Jeera prices were up 0.60 per cent to Rs 15,050 per quintal in futures trade today as traders widened positions, driven by pick up in demand in the spot market.

Besides, restricted supplies from growing regions supported the upside.

At the National Commodity and Derivatives Exchange, jeera for delivery in September month rose by Rs 90, or 0.60 per cent to Rs 15,050 per quintal with an open interest of 14,628 lots.

Likewise, the spice for delivery in August contracts traded higher by Rs 80, or 0.55 per cent to Rs 14,755 per quintal in 7,653 lots.

Market analysts attributed the rise in jeera futures prices to pick up in demand in the spot market against tight supplies from producing belts.