Jeera futures climb 1.50 pc on pick-up in demand

Jeera prices spurted by 1.50 per cent to Rs 19,545 per quintal in futures trade today as speculators created fresh positions, driven by pick-up in demand from stockists and overseas enquiries.

Furthermore, tight stocks position following restricted arrivals from the growing regions fuelled the uptrend.

At the National Commodity and Derivatives Exchange, jeera for delivery in November rose by Rs 290, or 1.50 per cent, to Rs 19,545 per quintal, with an open interest of 8,079 lots.

Likewise, the contract for current month delivery was trading higher by Rs 280, or 1.45 per cent to trading at Rs 19,460 per quintal, the open interest of contract stood at 7,074 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 at futures trade.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)