Jeera November contract dropped Rs 32 and settled at Rs 13140 a kg on weak export demand, hopes of a rise in acreage and a decline in domestic demand, outweighing concerns from lower supplies. Trading activities are very sluggish in spot due to absence of demand.  Area under jeera is expected to increase this year as farmers have seen very good prices. The total arrivals of jeera were around 1500 bags were reported at Unjha Mandi against 200 bags from the previous day. In Unjha, a key spot market in Gujarat, jeera dropped -40 rupees to end at 13090 rupees per 100 kg. The contract made intraday low of Rs 13098 a kg and high of Rs 13265 a kg. Support for jeera is at 13070 below that could see a test of 13001. Resistance is now seen at 13237 above that could see a resistance of 13335.

Trading Ideas:

Jeera trading range is 13001-13335.

Jeera ended weak on weak export demand

Jeera is having resistance at 13237 and support at 13070 level.

NCDEX accredited warehouses jeera stocks fell 12 tonnes to 6678 tonnes.

In Unjha, a key spot market in Gujarat, jeera dropped -40 rupees to end at 13090 rupees per 100 kg.