Jeera futures up 3.86% on pick up in demand

Amid an uptick in domestic as well as exports demand in the spot market, jeera prices surged by 3.86 per cent to Rs 17,605 per quintal in futures trade today.

Expectations of lower output also supported the upside.

At the National Commodity and Derivatives Exchange, jeera for delivery in far-month June spurted by Rs 655, or 3.86 per cent to Rs 17,605 per quintal with an open interest of 11,034 lots.

Similarly, the spice for delivery in May contracts jumped up by Rs 635, or 3.79 per cent to Rs 17,400 per quintal in 14,343 lots.

Analysts said widening of positions by speculators on the back of upsurge in domestic as well as exports demand in the spot market against restricted supplies from producing belts mainly pushed up jeera prices at futures trade.