Jeera moves up in futures trade on spot demand

NEW DELHI: Jeera rose by Rs 55 to Rs 13,225 per quintal in futures trading today as speculators created fresh positions after some improvement in spot market demand.

However, rising supplies of the new crop and expectations of a rise in output this season limited the gains.

At the National Commodity and Derivatives Exchange, jeera for delivery in March rose by Rs 55, or 0.42 per cent to Rs 13,225 per quintal with an open interest of 10326 lots.

Similarly, the spice for delivery in April rose by Rs 40, or 0.30 per cent to Rs 13,292.50 per quintal in 7404 lots.

Market analysts said fresh positions created by speculators on some improvement in spot market demand mainly led to rise in jeera prices at futures trade.