Jeera futures rise 0.89 pc on rising demand

Jeera prices rose Rs 170, or 0.89 per cent, to close at Rs 19,185 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 restricted arrivals from the growing regions too fuelled the uptrend.

At the National Commodity and Derivatives Exchange, jeera for delivery in December contract rose Rs 170, or 0.89 per cent, to close at Rs 19,185 per quintal, with an open interest of 10,197 lots.

On similar lines, the contract for this month was trading higher at Rs 18,805, up by 0.51 per cent, or Rs 95 per quintal, with an open interest at 3,942 lots.

Analysts said the rise in jeera prices at futures trade was supported by increased buying by retailers and stockists 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.)