Jeera futures rise 0.62 pc on export demand

NEW DELHI: Jeera prices rose by 0.62 per cent to Rs 13,445 per quintal in futures market today as speculators enlarged their positions, supported by fresh export demand.

However, rising supplies in the spot market and higher production hopes, restricted the upside.

At the National Commodity and Derivatives Exchange, jeera for delivery in July rose by Rs 82.50, or 0.62 per cent, to Rs 13,445 per quintal, with an open interest of 12,492 lots.

Similarly, the spice for delivery in June moved up by Rs 75, or 0.57 per cent, to Rs 13,225 per quintal in 6,009 lots.

Analysts attributed the rise in jeera prices in futures trade to increased export demand but higher supplies in the spot market and higher output hopes, limited the upside.

Meanwhile, India is the largest jeera producer in the world, followed by Syria and Turkey.