Jeera futures rise 1.16 pc on pick up in demand

NEW DELHI: Jeera prices rose sharply by 1.16 per cent to Rs 15,092 per quintal in futures market today as speculators built-up huge positions on the back of rising demand in domestic spot markets.

However, ongoing sowing operations in the leading cultivating states, capped the gains.

At the National Commodity and Derivatives Exchange, jeera for delivery in April rose by Rs 172.50, or 1.16 per cent to Rs 15,092.50 per quintal with an open interest of 2,721 lots.

Likewise, the spice for delivery in May gained Rs 170, or 1.12 per cent to Rs 15,335 per quintal in an open interest of 300 lots.

Markets analysts said pick up in domestic demand mainly influenced jeera prices at futures trade but ongoing sowing operations in leading cultivating states, limited the gains.