Jeera futures surges 3.54% to close at Rs. 18, 420

NEW DELHI: Jeera prices surged 3.54 per cent to Rs 18,420 per quintal in futures trade today as speculators created fresh positions amid tight supplies from producing belts and rising demand in the spot market.

At the National Commodity and Derivatives Exchange, jeera for delivery in June shot up by Rs 630, or 3.54 per cent, to Rs 18,420 per quintal with an open interest of 24,282 lots.

Likewise, the spice for delivery in May traded higher by Rs 595, or 3.45 per cent, to Rs 17,855 per quintal in 186 lots.

Analysts said besides tight supplies from producing belts, pick up in demand in the spot market mainly led to the rise in jeera prices at futures trade.