Jeera December contract dropped Rs 170 and settled at Rs 14150 a kg due to weak export demand, as per the latest updates from the spices board of India, during April-October 2010, Jeera exports slumped 36 percent to 20,000 tonnes and value was down nearly 30 percent to Rs 23,889.13 lakh. However, the reports of delayed sowing for the commodity is likely to support the spice from further falling in near term. There are reports of delayed sowing in major growing belts in Gujarat and lower stocks are available with traders and stockiest amid crop loss in other countries. n Unjha, a key spot market in Gujarat, jeera dropped -57.4 rupees to end at 14256.25 rupees per 100 kg. The contract made intraday low of Rs 14051 a kg and high of Rs 14442 a kg. Support for jeera is at 13987 below that could see a test of 13823. Resistance is now seen at 14378 above that could see a resistance of 14605.

Trading Ideas:

Jeera trading range is 13824-14606.

Jeera ended lower due to weak export demand

Jeera is having resistance at 14370 and support at 14000 level.

NCDEX accredited warehouses jeera stocks rose 29 tonnes to 6246 tonnes.

In Unjha, a key spot market in Gujarat, jeera dropped -57.4 rupees to end at 14256.25 rupees per 100 kg.