Jeera settled down -0.46% at 12517.5 as increased acreage and prospects of higher production weighed on sentiment. Export demand is supporting but hopes of higher production are keeping the upside limited. Farmers in the key cultivating states have raised the area under the cultivation due to ample rains in the monsoon season and favourable weather. Jeera is a winter crop sown from October. Farmers mainly depend on the rains to moisten the land for sowing. Supplies from the new season crop are expected to hit the market from mid-February. India exported 67,500 tonnes of cumin seed during April-September 2013, up from 35,018 tonnes in the year-earlier period, data from the Spices Board of India showed. With sowing being reported higher in the growing States of Gujarat and Rajasthan and weather being conducive for the crop growth, the uptrend may be limited. Sources anticipate exports to rise in coming months amidst reports of lower production in Turkey and Syria. Sources said that hopes of a higher production of the rabi crop in view of increase in its acreage could drag its demand. Favourable weather conditions, too, are aiding higher planting of jeera this year. However, market sources say that the area under jeera could drop this year as some farmers are expected to diversify to other crops such as pulses. In Unjha, a key spot market in Gujarat, jeera edged down by -37.3 rupees to end at 12664.1 rupee per 100 kg. Technically market is under fresh selling as market has witnessed gain in open interest by 3.95% to settled at 6867 while prices down -57.5 rupee, now Jeera is getting support at 12457 and below same could see a test of 12396 level, And resistance is now likely to be seen at 12597, a move above could see prices testing 12676.

Trading Ideas:

Jeera trading range for the day is 12393-12673.

Jeera prices dropped as increased acreage and prospects of higher production weighed on sentiment.

Export demand is supporting but hopes of higher production are keeping the upside limited.

Favourable weather conditions, too, are aiding higher planting of jeera this year.

In Unjha, a key spot market in Gujarat, jeera edged down by -37.3 rupees to end at 12664.1 rupee per 100 kg.