Jeera October contract gained Rs 27.5 and settled at Rs 13890 per quintal  on the heels of strong export demand of jeera along with receding supplies in local mandies. Jeera is expected to trade weak in short-term because of hopes of good sowing in the upcoming season. Delayed rains in parts of Gujarat, the top-producing state, have raised hopes of better sowing. The total arrivals remained unchanged at 3,000 bags, while demand was seen for around 10,000 bags against 5,000 bags. With the anticipation of strong price escalation in jeera in the current season due to strapping export demand prompted the heavy stocking of jeera during the April- August period. Therefore, not much demand by stockiest and physical traders was reported at current levels. Moreover, heavy rainfall in the major jeera producing states such as Rajasthan and Gujarat also raised the prospects of bumper jeera production in the coming year. The total arrivals decreased by 500 bags to 4,000 bags, while demand was seen for around 7,000 bags against 11,000 bags. Market sources suggested that India`s total Jeera exports are expected to reach 45000 tonnes in the current year due to lower prices of Indian variety of jeera along with waning supplies in other exporting nations. In Unjha, a key spot market in Gujarat, jeera dropped -19 rupees to end at 14418.5 rupees per 100 kg. The contract made intraday low of Rs 13705 a kg and high of Rs 14040 a kg. Support for jeera is at 13717 below that could see a test of 13543. Resistance is now seen at 14052 above that could see a resistance of 14213.

Trading Ideas:

Jeera trading range for the day is 13543-14213.

Jeera ended with gains on the heels of strong export demand of jeera along with receding supplies in local mandies.

Jeera is expected to trade weak in short-term because of hopes of good sowing in the upcoming season.

NCDEX accredited warehouses jeera stocks dropped by 45 tonnes to 9125 tonnes.

In Unjha, a key spot market in Gujarat, jeera dropped -19 rupees to end at 14418.5 rupees per 100 kg.