Jeera June contract dropped Rs 232.5 and settled at Rs 12970 per quintal as a pick-up in local supplies and higher production weighed on sentiment. Supplies have increased as farmers are clearing their stocks before the monsoon rains. Supplies would dip with the arrival of rains. At Unjha, a key market in Gujarat, daily supplies picked up to 18,000 bags of 60 kg each as against 8,000-10,000 bags in the third week of this month. The total Jeera production is around 34-35 lakh bags in the current year, up almost 1-2 lakh bags from the last year. This is mainly due to sowing in Rajasthan and better recovery of Jeera from Gujarat. Moreover, hedgers selling in futures market in order to protect their long position in physical market also might also add selling pressure in Jeera market. The total jeera production of around 34-35 lakh bags in the current year, up almost 1-2 lakh bags from the last year. This is mainly due to sowing in Rajasthan and better recovery of jeera from Gujarat. Moreover, hedgers selling in futures market in order to protect their long position in physical market also added the selling pressure in jeera market. The total arrivals of jeera were reported at 12 thousand bags, up 2000 bags from the last day. The overall yield is expected to increase by almost 20-25% from the last year. In Unjha, a key spot market in Gujarat, jeera gained 58.5 rupees to end at 13551.85 rupees per 100 kg. The contract made intraday low of Rs 12950 a kg and high of Rs 13240 a kg. Support for jeera is at 12867 below that could see a test of 12763. Resistance is now seen at 13157 above that could see a resistance of 13343.

Trading Ideas:

Jeera trading range for the day is 12763-13343.

Jeera ended with losses as a pick-up in local supplies and higher production weighed on sentiment.

Supplies have increased as farmers are clearing their stocks before the monsoon rains.

NCDEX accredited warehouses jeera stocks gained by 69 tonnes to 7661 tonnes.

In Unjha, a key spot market in Gujarat, jeera gained 58.5 rupees to end at 13551.85 rupees per 100 kg.