Jeera futures rise Rs 100 per quintal on uptick in demand

Jeera prices went up by Rs 100 to Rs 16,835 per quintal in futures trade today as speculators created fresh positions, driven by pick-up in demand from stockists and overseas enquiries.

Furthermore, tight stock positions following restricted arrivals from the growing regions, fuelled the uptrend.

At the National Commodity and Derivatives Exchange, jeera for delivery in the April rose by Rs 100, or 0.59 per cent, to Rs 16,835 per quintal, with an open interest of 1,680 lots.

Likewise, the contract for March was trading higher by Rs 95, or 0.57 per cent, at Rs 16,655 per quintal with an open interest of contracts of 9,750 lots.

Traders said speculative positions built up by participants amid rising domestic as well as export demand, mainly led to the rise in jeera prices.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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