Jeera futures move higher 1.61 pc on rising domestic demand
Jeera prices increased by Rs 295, or 1.61 per cent, to Rs 18,660 per quintal in futures trade today on higher bets, tracking a firm trend at the spot market in the wake of rising domestic demand.
Further, tight stocks position following restricted arrivals from the growing regions fuelled the uptrend.
At the National Commodity and Derivatives Exchange, jeera for delivery in the current month rose Rs 295, or 1.61 per cent, to Rs 18,660 per quintal with an open interest of 1,356 lots.
On similar lines, the contract for December was trading higher at Rs 19,130, up by 1.46 per cent, or Rs 275 per quintal with an open interest at 12,624 lots.
Analysts said the rise in jeera prices in futures trade was supported by increased buying by retailers and stockists at the spot market amid restricted supplies from producing regions.