Jeera futures edge higher 0.77% on pick-up in demand

NEW DELHI, June 26: Jeera prices firmed up by 0.77 per cent to Rs 17,640 per quintal in futures trade today as speculators created fresh positions, driven by pick up in demand from stockists.

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 far-month August contract rose by Rs 135, or 0.77 per cent, to Rs 17,640 per quintal, with an open interest of 1,281 lots.

Likewise, contract for July was increased by Rs 125, or 0.72 per cent, to Rs 17,440 per quintal, as the open interest of contract stood at 5,307 lots.

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