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Jeera prices gained in the spot market on fresh export demand.
Similarly, jeera futures, too, gained as speculators enlarged positions, tracking a rising trend in the spot markets on good demand against thin supply.
Jeera medium quoted Rs 20 higher at Rs 2,345-2,445 for 20 kg, NCDEX quality raw quoted at Rs 2,670-2,770 at Unjha market of Gujarat.
Arrivals stood at 3,500-4,000 bags and traded around 6,000-7,000 bags.
Traders said that besides a pick up in demand in the spot market, limited arrivals from producing belts mainly strengthened jeera prices at futures.
On the National Commodities and Derivatives Exchange (NCDEX), jeera for November delivery was traded higher by Rs 42.50 at Rs 13,855 a quintal with an open interest of 18,480 lots. December contract increased by Rs 95 to Rs 14,157.50 with an open interest of 4,389 lots.
NCDEX accredited warehouses jeera stocks gained by 30 tonnes at 9,155 tonnes.
The country’s jeera exports are expected to reach 45,000 tonnes this year due to lower prices along with waning supplies in other exporting nations.
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