Jeera futures rise 1.7 pc on pick-up in demand

Jeera prices rose 1.7 per cent to Rs 17,080 per quintal in futures trade Thursday as speculators created fresh positions, driven by pick-up in demand from stockists and overseas enquiries.

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

At the National Commodity and Derivatives Exchange, jeera for delivery in April rose by Rs 285, or 1.7 per cent, to trade at Rs 17,080 per quintal, with an open interest of 30 lots.

Likewise, the contract for March was trading higher by Rs 30, or 0.18 per cent, to Rs 17,000 per quintal, with an open interest of 1,626 lots.

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

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