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On the back of good domestic and export demand, jeera price was moved up in future and spot market on Thursday.
According to traders, domestic demand was good and market is expecting improvement in export buying at the lower lever. On the other hand lower sowing progress and tight supply also supported the price to go up.
On National Commodity and Derivatives Exchange (NCDEX) jeera December contract was gained Rs 95 to Rs 12,395 per quintal, with an open interest of 3,060 lots. NCDEX January contract was increased Rs 115 to Rs 12,635 per quintal, with an open interest of 6,924 lots.
As per Kedia Commodity report, jeera in the line of expectation market gained still outlook remain firm for jeera to test cross Rs.13000 mark soon as support seen after pick up in domestic and export demand in the spot market. Technically market is under fresh buying as market has witnessed gain in open interest by 12.42 percent.
At Unjha mandi of Gujarat, about 16,000-18,000 bags of jeera arrived and price was gained Rs 20-25 to Rs 1,850-2,200 per 20 kg. About 1,000 bags arrived in Rajkot and price was quoted up by Rs 15-17 to Rs 1,900-2,175 per 20 kg.
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