Jeera futures gain 0.59 pc on rise in export demand

NEW DELHI: Jeera prices gained 0.59 per cent to Rs 13,295 per quintal in futures trading today as speculators created fresh positions, driven by a rise in export demand.

However, expectations of a higher output this season restricted the gains.

At the National Commodity and Derivatives Exchange, jeera for delivery in May rose by Rs 77.50, or 0.59 per cent to Rs 13,295 per quintal with an open interest of 9,852 lots.

Similarly, the spice for delivery in April traded higher by Rs 57.50, or 0.44 per cent to Rs 13,110 per quintal in 6,386 lots.

Analysts attributed the rise in jeera futures to fresh positions created by speculators, driven by a rise in export demand.