Jeera futures edge higher on rising demand

Jeera prices rose by Rs 295 to Rs 15,240 per quintal in futures market today after participants widened positions on rising demand.

Restricted supplies in the domestic spot market and some export enquiries too supported the uptrend.

At the National Commodity and Derivatives Exchange, jeera for delivery in March rose by Rs 295, or 1.97 per cent, to Rs 15,240 per quintal with an open interest of 8,610 lots.

Likewise, the spice for delivery in April traded higher by Rs 285, or 1.87 per cent, to Rs 15,485 per quintal in 4,119 lots.

Traders said speculative positions built up by participants amid pick-up in domestic as well as export demand mainly led to a rise in jeera prices in futures trade.