Commodities

Jeera futures up on weak supply, output concerns

PTI New Delhi | Updated on February 21, 2011

Jeera futures prices surged by 1.48 per cent to Rs 16,759 per quintal after speculators enlarged their positions on concerns about lower output and unseasonal rains at the producing centres.

At the National Commodity and Derivatives Exchange, the spice for delivery in April rose by Rs 244 or 1.48 per cent to Rs 16,759 per quintal with an open interest of 14,766 lots. Similarly, March contract shot up by Rs 235 or 1.46 per cent to Rs 16,315 per quintal with a trade volume of 14,046 lots.

Market analysts said speculative activity by traders buoyed by lower production following adverse weather conditions at the producing belts and weak supplies at the spot market mainly influenced jeera futures prices.

Published on February 21, 2011

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