Jeera futures remain up as export demand picks up

NEW DELHI: Jeera prices remained higher for the second straight day with prices rising by 2.11 per cent to Rs 13,570 per quintal in futures trade today as speculators engaged in enlarging their positions on the back of a firm demand.

However, expectations of a higher output this season limited the upside.

At the National Commodity and Derivatives Exchange, jeera for delivery in May rose further by Rs 280, or 2.11 per cent to Rs 13,570 per quintal with an open interest of 11,274 lots.

Similarly, the spice for delivery in April gained Rs 262.50, or 2 per cent to Rs 13,365 per quintal in 4,998 lots.

Market analysts said increased buying by speculators, taking positive cues from the spot market on pick up in export demand mainly kept jeera prices higher for the second day at futures trade.