Jeera prices increases 0.16 pct on rising domestic demand

Jeera prices increased by Rs 30 to Rs 19,000 per quintal in futures trade Friday on higher bets, tracking a firm trend at the spot market in the wake of rising domestic demand.

Further, tight stocks position following restricted arrivals from the growing regions fuelled the uptrend.

At the National Commodity and Derivatives Exchange, jeera for delivery in the current month rose Rs 30, or 0.16 per cent, to Rs 19,000 per quintal with an open interest of 5,001 lots.

On similar lines, November rates were trading higher at Rs 19,145, up by Rs 30, or 0.16 per cent quintal with an open interest at 4,632 lots.

Analysts said the rise in jeera prices in futures trade was supported by increased buying by retailers and stockists at the spot market amid restricted supplies from producing regions.

(With inputs from agencies.)