Jeera futures rise 0.59 pc on high demand

Jeera prices rose 0.59 per cent to close at Rs 19,470 per quintal in futures trading today as participants raised bets, tracking a firm trend at spot market on rising domestic demand.

Further, tight stocks position following lower supply from the producing belts fuelled the uptrend.

At the National Commodity and Derivatives Exchange, jeera for delivery in October rose Rs 115, or 0.59 per cent, to close at Rs 19,470 per quintal, with an open interest of 8,223 lots.

On similar lines, the contract for this month was trading at Rs 19,790, up by 0.48 per cent, or Rs 95 per quintal, with an open interest at 11,826 lots.

Analysts said the rise in jeera prices at futures trade was supported by increased buying by retailers at the spot market amid restricted supplies from producing regions.

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