With limited arrivals and the increasing demand from exporters as well as domestic market, jeera prices were on the upside on Thursday. However, rains in parts of Gujarat restricted the upside.
Market men attributed gains in jeera prices at futures trade to improved overseas sales and a pick-up in domestic demand but rains in Gujarat, country's top jeera producer, capped the gains.
On the National Commodity and Derivatives Exchange (NCDEX) jeera September contract rose Rs 180 to Rs 16,310 a quintal with an open interest of 22,416 lots. October delivery gained Rs 165 to Rs 16,517.50 with an open interest of 12,858 lots. NCDEX-accredited warehouses jeera stocks gained by 162 tonnes to 9,925 tonnes.
Spot jeera was up Rs 25 for 20 kg at Unjha. Spot jeera was up on Bangladesh demand. New jeera medium quoted at Rs 2,500-2,600 for 20 kg, NCDEX quality raw at Rs 2,850-2,975. Arrivals stood at 4,000 bags on rains and traded around 6,000-7,000 bags.