Jeera futures rise 1.29% on strong physical market cues

A rally of Rs 200 per quintal in jeera futures prices was seen today as traders accumulated positions on strong physical market cues.

Market players attributed the rise in jeera prices to bolstering in local demand amid tight stocks in spot markets.

India is the largest producer and consumer of jeera in the world.

At the National Commodity and Derivative Exchange, jeera delivery for April contract jumped up by Rs 200, or 1.29 per cent, to Rs 15,700 per quintal with an open interest of 60 lots.

Similarly, the delivery of May contract advanced by Rs 80, or 0.50 per cent, to Rs 16,160 per quintal with a business turnover of 5,592 open lots.