Jeera march contract dropped Rs -166 and settled at Rs 11485 a kg on depressed by rising arrivals, hopes of higher output and subdued local demand, Around 5,000 bags (55 kgs each) have arrived in the Unjha market today. Prices may fall further in absence of demand. Arrivals are expected to pick up in the next few days and would be peaking in March-April. Jeera exports in December 2009 dropped by 28 percent to 2,500 tonnes on year, the Spices Board said. Spot jeera fell by 54 rupees to end at 11,964rupees per 100 kg in Unjha, a major trading hub in Gujarat. Support for jeera is at 11158 below that could see a test of 11306. Resistance is now seen at 11632 above that could see a resistance of 11780.

Jeera trading range is 11420-11600.

Jeera ended slightly up but pressure from fresh arrivals and higher output estimates limited gains

Resistance for the jeera is at 11780 and support is at 11560 level.

NCDEX accredited warehouses jeera stocks seen at 4912 tonnes as on Feb 6.

BUY JEERA FEB ABV 11590 SL 11520 TGT 11660-11722-11780. NCDEX

Spot jeera prices fell by 77 rupees to end at 12,086 rupees per 100 kg