Jeera settled down -0.73% at 11545 on the back of weak export and domestic demand. Moreover, increasing arrival of the new crop and expectation of higher output also added to the downtrend. Higher arrivals of the new crop kept prices under check for Jeera even as apprehensions of rains in some parts of Rajasthan kept possibilities of some adverse impact on the harvesting. Demand and supply remained moderate as new crop arrivals are expected to pick up in coming days. In Unjha mandi ~7500 bags arrival was seen and demand remained at ~7000 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 5-6 lakh bags of Jeera has been reported in major producing areas , up almost 2-3 lakh bags from the previous year. In Unjha, a key spot market in Gujarat, jeera edged up by 11.25 rupees to end at 12054.1 rupee per 100 kg. Technically market is under long liquidation as market has witnessed drop in open interest by -0.35% to settled at 6828 while prices down -85 rupee, now Jeera is getting support at 11493 and below same could see a test of 11441 level, And resistance is now likely to be seen at 11631, a move above could see prices testing 11717.

Trading Ideas:

Jeera trading range for the day is 11453-11729.

Jeera prices declined on the back of weak export and domestic demand.

Moreover, increasing arrival of the new crop and expectation of higher output also added to the downtrend.

Demand and supply remained moderate as new crop arrivals are expected to pick up in coming days.

In Unjha, a key spot market in Gujarat, jeera edged up by 11.25 rupees to end at 12054.1 rupee per 100 kg.