Jeera futures rise 1.88 pc on high demand

Jeera prices rose 1.88 per cent to close at Rs 19,740 per quintal in futures trading today as participants raised bets, tracking a firm trend at spot market on rising domestic as well as exports 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 September rose Rs 365, or 1.88 per cent, to close at Rs 19,740 per quintal with an open interest of 15,930 lots.

On similar lines, the spice for delivery in current month edged higher by Rs 190, or 0.99 per cent, to end at Rs 19,330 per quintal in 78 lots.

Analysts said increasing of positions by traders on the back of pick-up in demand in the spot market amid restricted supplies from producing regions mainly led to the rise in jeera prices at futures trade.

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