Jeera on NCDEX settled up by 1.37% at 18160 on expectation of pickup in demand in the physical market. Further, tight supply amid lower crop at the producing belts too fuelled the uptrend. The export demand expected to pick up as prices have corrected enough in last 2 weeks. There is good demand from China and other countries and may support the prices. In the next few months, the prices will depend on export demand. According Spice board India data, the exports of Jeera in the first three months (Apr-Jun) of 2016-17 at 41,000 tonnes, higher 55% compared to last year same time. As per the trade sources, India's jeera exports rose nearly 25% to around 50,000 tonnes in Apr-Jul from 40,000 tn in the year-ago period due to good demand from China and Bangladesh. As per 4thadvance estimate of Gujarat State for 2015-16, production is pegged at 2.38 lt compared to 1.97 lt in 2014-15. In 2013-14, production was 3.46 lt. At Unjha market in Mehsana , total arrivals are at 500 quintals, down by 500 quintals from previous trading day. At Patan market in Patan(Guj.), estimated market supply was at 5 quintals, up by 4 quintals as compared to previous day. At New Delhi market , arrivals were reported at 1500 quintals, steady as against previous day's arrival. In Unjha, a key spot market in Gujarat, jeera edged up by 120 rupees to end at 18800 rupee per
100 kg. Technically market is under fresh buying as market has witnessed gain in open interest by 12.14% to settled at 11580 while prices up 245 rupee, now Jeera is getting support at 17970 and below same could see a test of 17780 level, And resistance is now likely to be seen at 18310, a move above could see prices testing 18460.

Trading Ideas:

Jeera trading range for the day is 17780-18460.

Jeera prices gained on expectation of pickup in demand in the physical market.

The exports of Jeera in the first three months (Apr-Jun) of 2016-17 at 41,000 tonnes, higher 55% compared to last year same time.

NCDEX accredited warehouses jeera stocks dropped by 77 tonnes to 5147 tonnes.

In Unjha, a key spot market in Gujarat, jeera edged up by 120 rupees to end at 18800 rupee per 100 kg.