Jeera rises 1.82 pc on spot demand

NEW DELHI: Supported by pick-up in spot demand, jeera futures prices today rose by 1.82 per cent to Rs 12,465 per quintal.

However, increased arrivals of the new season crop in the markets amid hopes of higher output this year capped the gains.

At the National Commodity and Derivatives Exchange, jeera for delivery in May shot up by Rs 222.50, or 1.82 per cent, to Rs 12,465 per quintal in an open interest of 11,274 lots.

Similarly, the spice for delivery in April moved up by Rs 205, or 1.72 per cent, to Rs 12,140 per quintal, having an open interest of 13,753 lots.

Analysts said a firming trend at the spot markets on the back of pick-up in demand mainly influenced jeera prices at futures trade here, but rising supplies from new crops amid expectations of higher output this year restricted the gains.