Jeera on NCDEX settled down by -1.32% at 17925 on profit booking after prices gained due to tight supplies with the stockists. Export enquiries from China are keeping the prices higher. Jeera acreage this season is also down in Gujarat compared to last year. Gujarat farmers have planted jeera in 2,78,700 hectares, down by 13,700 hectares compared to last year acreage of 2,92,400 hectares till same period. On the export front, Jeera exports in India are likely to rise 22% to 120,000 tonnes in 2016- 7 (Apr-Mar), compared with shipments of 98,700 tonnes a year ago., because of robust demand from overseas market and negligible stocks in other exporting nations. According to jeera exporters, while the new season is likely to start in March, farmers have gradually begun accepting payment digitally, and have therefore been able to ensure steady supply. Jeera exporters may not face the problems that cotton, groundnut or other commodities exporters are facing due to the cash crunch post demonetisation. The new season for jeera will start in March, by which time exporters may be able to source the required stocks. As per industry data, India exported about 100,000 tonnes of the spice during April to December and more than 20,000 tonnes of additional export would be possible during the next two months. As against this, India's total jeera exports were 98,000 tonnes in 2015-16. In Unjha, a key spot market in Gujarat, jeera edged down by -133.35 rupees to end at 18700 rupees per 100 kg. Technically now Jeera is getting support at 17795 and below same could see a test of 17670 level, And resistance is now likely to be seen at 18105, a move above could see prices testing 18290.

Trading Ideas:

# Jeera trading range for the day is 17670-18290.

# Jeera prices ended with losses on profit booking after prices gained due to tight supplies with the stockists.

# Jeera acreage this season is also down in Gujarat compared to last year.

# Gujarat farmers have planted jeera in 2,78,700 hectares, down by 13,700 hectares compared to last year acreage of
2,92,400 hectares.

# In Unjha, a key spot market in Gujarat, jeera edged down by -133.35 rupeess to end at 18700 rupeess per 100 kg.