Jeera futures rise 0.95% as demand picks up

NEW DELHI: Jeera prices rose by 0.95 per cent to Rs 10,100 per quintal in futures trade today as speculators built-up fresh positions driven by a pick up in demand in spot market.

However, expectations of higher output limited the gains. At the National Commodity and Derivatives Exchange, jeera for delivery in April rose by Rs 95, or 0.95 per cent, to Rs 10,100 per quintal with an open interest of 9,576 lots.

Similarly, the spice for delivery in May gained Rs 95, or 0.94 per cent, to Rs 10,240 per quintal in 4,485 lots.

Analysts attributed the rise in jeera futures to pick up in demand in the spot market but expectations of higher output restricted the gains.