Jeera futures up on strong spot demand

NEW DELHI: Jeera prices up by Rs 72.50 to Rs 15,557.50 per quintal in futures trade today as participants enlarged their positions, taking positive cues from spot market on firm demand.

At the National Commodity and Derivatives Exchange, jeera for delivery in March rose by Rs 72.50, or 0.47 per cent, to Rs 15,557.50 per quintal, with an open interest of 13,284 lots.

Similarly, the spice for delivery in December gained Rs 35, or 0.0.24 per cent, to Rs 14,595 per quintal, with an open interest of 1,908 lots.

Marketmen said fresh positions created by speculators on the back of a firming trend in spot markets on strong demand influenced jeera prices at futures trade.

Further, reports of slow pace of sowing in parts of Gujarat, the top producer, also supported the upside, they said.