NEW DELHI, Jan 28: Jeera prices gained 0.24 per cent to Rs 13,477.50 per quintal in futures trading today as speculators covered-up their short positions at prevailing levels.
At the National Commodity and Derivatives Exchange, jeera for delivery in March rose by Rs 32.50, or 0.24 per cent to Rs 13,477.50 per quintal with an open interest of 12,177 lots.
Similarly, the spice for delivery in April moved up by Rs 20, or 0.15 per cent to Rs 13,537.50 per quintal in business turnover of 5,334 lots.
Most often, traders cover their shorts whenever they speculate that the commodity price will rise.
Market analysts said covering-up of short positions by speculators helped jeera prices to rise at futures trade here, but weak demand at producing regions and expectations of higher area under cultivation and output, capped gains. (PTI)
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