Jeera on NCDEX settled down by -1.58% at 16860 as arrivals would pick up while demand is unlikely to pick up. Commencement of arrivals new crop and liquidation of old stocks would keep prices of Jeera lower for the coming couple of weeks. However, on reports of lower production and good export demand may limit the losses, report added. Stockists and masala manufacturers are waiting for prices to fall further. Sowing of Jeera in Gujarat is pegged at 278,000 hectare until Feb 6 as against 295,000 hectare a year ago. However, sowing is Rajasthan is reported to be lower by 15-20% according to trade sources. India imported around 2,550 ton jeera during Apr-Oct as against negligible in the previous year. India's Apr-Sept jeera exports spurted 49% to 68,660 ton on increased shipments to Bangladesh and China. Sources are expecting jeera exports to touch 120,000 ton level during the current year as supplies from the other exporting countries-Turkey and Syria-hit due to political turbulence there. Current year new Jeera crop enter to the market in Porbandar and Junagarh regions, 2016-17 Jeera area reported in Porbandar around 12100 hectares and in Junagarh 5300 hectares. Sources revealed that, around 250 - 300 bags coming daily basis from last one week. Due to higher moisture content buyers were quoted lower prices. Jeera standing crop reported well in Gujarat state current year. In Unjha, a key spot market in Gujarat, jeera edged down by -34.35 Rupees to end at 17893.35 Rupees per 100 kg. Technically market is under fresh selling as market has witnessed gain in open interest by 3.28% to settled at 4905, now Jeera is getting support at 16760 and below same could see a test of 16655 level, And resistance is now likely to be seen at 17020, a move above could see prices testing 17175.

Trading Ideas

# Jeera trading range for the day is 16655-17175.

# Jeera prices dropped as arrivals would pick up while demand is unlikely to pick up.

# Sowing of Jeera in Gujarat is pegged at 278,000 hectare as against 295,000 hectare a year ago.

# However, sowing is Rajasthan is reported to be lower by 15-20% according to trade sources.

# In Unjha, a key spot market in Gujarat, jeera edged down by -34.35 Rupees to end at 17893.35 Rupees per 100 kg.