Jeera futures prices rise on strong demand

Oct 15 2012, 16:35 IST
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SummaryJeera futures prices today shot up by Rs 377.50 to Rs 15,317.50 per quintal.

Jeera futures prices today shot up by Rs 377.50 to Rs 15,317.50 per quintal as speculators enlarged their positions, tracking a firm trend at spot market on strong demand for the upcoming festive season.

At the National Commodity and Derivatives Exchange, jeera for delivery in November rose by Rs 377.50, or 2.53 per cent, to Rs 15,317.50 per quintal, with an open interest of 15,897 lots.

Similarly, the spice for delivery in October moved up by Rs 332.50, or 2.25 per cent, to Rs 15,115 per quintal in 702 lots.

Analysts said speculators increased their positions on the back of strong demand in the spot market ahead of festivals amid lower arrivals from producing belts, mainly pushed up jeera prices at futures trade.

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