Jeera futures inch up on firm spot market demand

NEW DELHI: Jeera prices rose 0.52 per cent to Rs 14,925 per quintal in futures trade today as speculators hiked positions tracking a firm spot market trend on pick up in demand.

At the National Commodity and Derivatives Exchange, jeera for delivery in December gained Rs 77.50, or 0.52 per cent, to Rs 14,925 per quintal, with an open interest of 16,323 lots.

Similarly, the spice for delivery in March traded higher by Rs 70, or 0.45 per cent, to Rs 15,710 per quintal, with an open interest of 4,635 lots.

Market participants said fresh positions created by speculators on the back of a rise in demand in the spot market amid a better trend at the producing region Unjha, Gujarat, mainly influenced jeera futures.