Jeera settled up 1.88% at 11115 due to rise in demand in the spot market against restricted supplies from producing region. Besides, fresh spot demand, covering-up of short positions by speculators, too helped jeera prices. Demand is expected to improve in the coming days as prices are low and there are reports that fresh export orders have come to the market. Exports would support the market in the coming days. Daily arrivals in Unjha mandi coming with lower quantity due to lean season start. Average daily arrivals at Unjha were reported around 10000-12000 bags compared auction with 10,000-15,000 bags in the last trading day. Tensions in Syria and Turkey may provide some support as India is a major supplier in the global market. The new crop in Syria and Turkey is harvested in August–September but with tensions escalating in the region, the supply could be hampered. In Mehsana arrivals were reported at 12000 quintals, higher by 4000 quintals from previous trading day. 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. In Unjha, a key spot market in Gujarat, jeera edged up by 9.4 rupees to end at 11035.95 rupee per 100 kg. Technically market is under short covering as market has witnessed drop in open interest by -7.04% to settled at 7170, now Jeera is getting support at 11005 and below same could see a test of 10850 level, And resistance is now likely to be seen at 11250, a move above could see prices testing 11340.

Trading Ideas:

Jeera trading range for the day is 10835-11325.

Jeera prices ended with gains due to rise in demand in the spot market against restricted supplies from producing region.

Besides, fresh spot demand, covering-up of short positions by speculators, too supported jeera prices.

The new crop in Syria and Turkey is harvested in August–September but with tensions escalating in the region, the supply could be hampered.

In Unjha, a key spot market in Gujarat, jeera edged up by 9.4 rupees to end at 11035.95 rupee per 100 kg.