Jeera futures gain on spot demand

Jeera prices were up 0.82 percent to Rs 19,130 per quintal in futures trading today as speculators raised their bets amid a pick-up in domestic as well as exports demand at the spot market.

Furthermore, tight stocks position on fall in arrivals from the growing regions also supported the upmove in prices.

At the National Commodity and Derivatives Exchange, jeera for delivery in September rose by Rs 155, or 0.82 percent to Rs 19,130 per quintal with an open interest of 6,588 lots.

On similar lines, the spice for delivery in October contracts was trading higher by Rs 130, or 0.67 percent to Rs 19,420 per quintal in 2,388 lots.

Analysts said widening of positions by participants on the back of a pick-up in domestic as well as exports demand in the physical market against restricted supplies from producing regions, led to the rise in jeera prices at futures trade.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)