Jeera settled flat as arrivals from the new-season crop are expected to gain pace in the following weeks and on prospects of higher production Arrivals of good quality new crop are expected to pick up in coming days. In Unjha mandi ~10500 bags arrival was seen and demand remained at ~9000 bags. As per the latest data release by Gujarat Agriculture Board , the total sowing acreage of Jeera in the state has been increased by 1.05 lakh hectares from the last year to reach 4.54 lakh hectares due to favorable weather conditions and strong export demand in local mandies. Traders estimated that the total production of the Jeera is likely to increase by 10 lakh bags to reach around 46 lakh bags in the current year. The strong carryover stocks in local mandies also added selling in Jeera market as traders estimated that around 7-8 lakh bags of Jeera has been reported in major producing areas , up almost 3-4 lakh bags from the previous year. However, bargain buying might support recovery at lower levels in medium term on strong export data reports. In Unjha, a key spot market in Gujarat, jeera edged down by -30.5 rupees to end at 12357.5 rupee per 100 kg. Technically market is under fresh buying as market has witnessed gain in open interest by 0.04% to settled at 6894 while prices up 7.5 rupee, now Jeera is getting support at 11808 and below same could see a test of 11686 level, And resistance is now likely to be seen at 12106, a move above could see prices testing 12282.

Trading Ideas:

Jeera trading range for the day is 11702-12298.

Jeera settled flat as arrivals from the new-season crop are expected to gain pace in the following weeks and on prospects of higher production

Arrivals of good quality new crop are expected to pick up in coming days.

In Unjha mandi ~10500 bags arrival was seen and demand remained at ~9000 bags.

In Unjha, a key spot market in Gujarat, jeera edged down by -30.5 rupees to end at 12357.5 rupee per 100 kg.