Jeera futures surge on spot demand, tight supply

NEW DELHI: Jeera prices surged by Rs 335 to Rs 12,662.50 per quintal in futures trade today as speculators enlarged their positions on rising spot markets demand.

Fall in arrivals from producing regions in the physical market also led an upsurge in jeera prices.

At the National Commodity and Derivatives Exchange, jeera for delivery in June surged by Rs 335, or 2.72 per cent, to Rs 12,662.50 per quintal in open interest of 2217 lots.

In a similar fashion, the spice for delivery in July shot up by Rs 170, or 1.32 per cent, to Rs 13,075 per quintal in 18,921 lots.

Analysts said besides rising demand in the spot market, less arrivals from producing regions mainly led the rise in jeera prices at futures market.