Jeera futures remain up on export demand, poor rains

NEW DELHI: Supported by deficient rains in key growing region and export enquiries, jeera futures traded 0.53 per cent higher at Rs 16,445 per quintal today as speculators created fresh positions.

Besides, reduced domestic supplies in the physical markets influenced the prices.

At the National Commodity and Derivatives Exchange, jeera for delivery in August rose by Rs 87.50, or 0.53 per cent, to Rs 16,445 per quintal, with an open interest of 2,262 lots.

The spice for delivery in August traded higher by Rs 65, or 0.38 per cent, to Rs 16,925 per quintal, with an open interest of 26,379 lots.

Marketmen said restricted supplies in the physical market following lower rainfall in Gujarat, country's top jeera producer, and rising demand on account of festive season continued to influence the spice prices at futures trade here.

Besides, export enquiries too supported the upside in the prices, they said.