Jeera futures rise Rs 170 per quintal on uptick in demand

NEW DELHI: Jeera prices went up by Rs 170 to Rs 16,730 per quintal in futures trade today as speculators created fresh positions, driven by pick-up in demand from stockists and overseas enquiries.

Furthermore, tight stocks position following restricted arrivals from the growing regions, fuelled the uptrend.

At the National Commodity and Derivatives Exchange, jeera for delivery in March contracts rose Rs 170, or 1.02 per cent, to Rs 16,730 per quintal, with an open interest of 11,238 lots.Likewise, the contracts for April were trading higher by Rs 145, or 0.85 per cent, at Rs 17,040 per quintal with an open interest of contracts of 1,782 lots.

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