Jeera futures edge higher 3.20% on export demand

NEW DELHI: Jeera prices spurted by Rs 530, or 3.20 per cent, to Rs 17,100 per quintal in futures trade today as speculators indulged in creating fresh positions driven by domestic and exports demand in the spot market.

Besides, shortage of stocks following unseasonal rains in growing regions supported the upside.

At the National Commodity and Derivatives Exchange, jeera for delivery in April was trading sharply higher by Rs 530, or 3.20 per cent, to Rs 17,100 per quintal with an open interest of 2,193 lots.

Likewise, the spice for delivery in May spurted by Rs 525, or 3.11 per cent, to Rs 17,420 per quintal in 18,042 lots.

Analysts said fresh positions built-up by speculators triggered by fall in production and rising domestic as well as export demand, mainly led to rise in jeera prices at futures trade.