Jeera settled flat tracking firmness in spot demand on concerns about production estimates from growing regions. In Mehsana arrivals were reported at 11000 quintals, higher by 3000 quintals as compared to previous day. In Rajkot estimated market supply was at 570 quintals, down by 120 quintals as against previous day. As per market sources, the export demand of jeera in local mandies has reported some weakness at current levels on the account of fresh supplies from Syria and Turkey in international market. The prices were also pressurized by revival of monsoon in major growing states of jeera such as Rajasthan and Gujarat. Good demand amdist moderate arrivals supported the sentiments. Moreover, regular Export demand kept trend slight firm for Jeera as arrivals remained low. 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 up by 53.75 rupees to end at 11703.75 rupee per 100 kg. Technically market is under short covering as market has witnessed drop in open interest by -2.44% to settled at 7320 while prices up 20 rupee, now Jeera is getting support at 11673 and below same could see a test of 11602 level, And resistance is now likely to be seen at 11828, a move above could see prices testing 11912.

Trading Ideas:

Jeera trading range for the day is 11595-11905.

Jeera prices settled flat tracking firmness in spot demand on concerns about production estimates from growing regions.

In Mehsana arrivals were reported at 11000 quintals, higher by 3000 quintals as compared to previous day.

NCDEX accredited warehouses jeera stocks dropped by 162 tonnes to 1237 tonnes.

In Unjha, a key spot market in Gujarat, jeera edged up by 53.75 rupees to end at 11703.75 rupee per 100 kg.