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Jeera prices increased at the futures market on the back of tight supply in the physical markets. However, prices in spot were remained almost steady on weak demand. Trader said that demand was limited but as supply of jeera was tight, prices remained steady at the spot.
Though, short covering by the market participants on expectation of fresh export demand and tight supply, jeera gained in futures. On the National Commodity and Derivatives Exchange (NCDEX) jeera October contract increased by ₹90 to ₹16,480 per quintal, with an open interest of 525 lots. NCDEX jeera November contract gained by ₹45 to ₹16,700 per quintal, with an open interest of 12,393 lots.
At the Unjha mandi of Gujarat, jeera arrival reported at 2,000 bags and price stood at ₹2,860-3,500 per 20 kg. About 300 bags arrived in Rajkot APMC and price quoted ₹2,800-3,400 per 20 kg.
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