Jeera October contract dropped Rs 266 and settled at Rs 13080 a kg on selling pressure amid weak export demand and spillover weakness from the pepper prices. The export demand for Indian Jeera is weak currently. Demand from the overseas and domestic buyers is expected to improve in the coming weeks. There are lower stocks of jeera in the domestic market till the fresh arrivals expected in the month of March. The total arrivals of around 2500 bags were reported at Unjha Mandi against 3000 bags from the previous day. In Unjha, a key spot market in Gujarat, jeera dropped -78.1 rupees to end at 13303.35 rupees per 100 kg. The contract made intraday low of Rs 13080 a kg and high of Rs 13422 a kg. Support for jeera is at 12966 below that could see a test of 12852. Resistance is now seen at 13308 above that could see a resistance of 13536.

Trading Ideas:

Jeera trading range is 12852-13536.

Jeera ended lower on selling pressure amid weak export demand

Jeera is having resistance at 13308 and support at 12966 level.

NCDEX accredited warehouses stocks jeera fell 245 tonnes to 5794 tonnes.

In Unjha, a key spot market in Gujarat, jeera dropped -78.1 rupees to end at 13303.35 rupees per 100 kg.