Jeera futures up 0.59 pc on pick up in demand

NEW DELHI: Jeera prices recovered by 0.59 per cent to Rs 15,450 per quintal in futures market today as speculators enlarged positions on back of pick up in spot market demand.

At the National Commodity and Derivatives Exchange, jeera for delivery in August gained Rs 90, or 0.59 per cent, to Rs 15,450 per quintal, with an open interest of 414 lots.

Similarly, the spice for delivery in September traded higher by Rs 20, or 0.13 per cent, to Rs 15,870 per quintal in 23,046 lots.

Marketmen said pick up in spot market demand helped jeera futures to trade higher but rains in parts of Gujarat -- the key growing region -- which would help improve soil moisture weighed on the sentiment.