Jeera January contract dropped Rs 292 and settled at Rs 13840 a kg as weakening export demand and subdued trade in spot, weighed on sentiment. Overseas demand is very weak and unlikely to pick up in coming days because exporters are expecting further fall in prices. Lower sowing of jeera in Gujarat, the biggest producer, due to unseasonal rains, however, limited the fall. In India, jeera is cultivated during winter from October to December, and harvested in February-April. In Unjha, a key spot market in Gujarat, jeera dropped -8.6 rupees to end at 14277.75 rupees per 100 kg. The contract made intraday low of Rs 13770 a kg and high of Rs 14213 a kg. Support for jeera is at 13669 below that could see a test of 13498. Resistance is now seen at 14112 above that could see a resistance of 14384.

Trading Ideas:

Jeera trading range is 13488-14374.

Jeera ended lower on weakening export demand and subdued trade in spot

Jeera is having resistance at 14000 and support at 13700 level.

NCDEX accredited warehouses jeera stocks rose 201 tonnes to 5989 tonnes.

SELL JEERA JAN @ 13950-14050 SL 14200 TGT 13780-13650-13560.NCDEX

In Unjha, a key spot market in Gujarat, jeera dropped -8.6 rupees to end at 14277.75 rupees per 100 kg.