Jeera settled up 0.18% at 10910 on an improvement in demand in the spot market. In Rajkot total arrivals are at 1100 quintals, down by 400 quintals as compared to previous day. In Mehsana Arrivals were reported at 8000 quintals, unchanged as compared to previous day’s arrival. Jeera arrivals declined in the Unjha mandi over last previous month. Jeera prices have been under pressure for last few months amid hopes of a strong harvest. Traders are expecting that exports of the commodity should rise in coming months amidst reports of lower production in Turkey and Syria. Latest reports from the Spices Board during the period April-December 2013, a total quantity of 96,500 tonnes of cumin valued Rs.1281.56 crore have been exported, registering an increase of 89% in quantity and 83% in value over same month's last year. 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. In Unjha, a key spot market in Gujarat, jeera edged down by -3.45 rupees to end at 11026.55 rupee per 100 kg. Technically market is under fresh buying as market has witnessed gain in open interest by 4.51% to settled at 7719, now Jeera is getting support at 10883 and below same could see a test of 10827 level, And resistance is now likely to be seen at 10988, a move above could see prices testing 11037.

Trading Ideas:

Jeera trading range for the day is 10817-11027.

Jeera prices ended with gains on an improvement in demand in the spot market.

In Rajkot total arrivals are at 1100 quintals, down by 400 quintals as compared to previous day.

NCDEX accredited warehouses jeera stocks dropped by 3 tonnes to 1854 tonnes.

In Unjha, a key spot market in Gujarat, jeera edged down by -3.45 rupees to end at 11026.55 rupee per 100 kg.