Jeera settled up by 0.96% at 11585 gained on fresh export demand also arrivals remained low which is supportive the prices. Geo-political tensions in Syria and Turkey have led to a supply crunch in the global markets raising supply concerns from the two major exporting countries. On the demand side, export enquiries are flowing into Indian pockets from the middle-east countries like Jordan and Iraq, which were usually the buyers from the main competitor - Syria and Turkey. The U. S, U. K, Japan, Brazil are the major cumin seeds importing countries. Both whole seeds and powdered seeds are internationally traded. Cumin essential oil is also becoming popular in the western hemisphere. Indian exports have witnessed a CAGR of 9% over the last 5 years. Arrivals in Unjha were reported at 14,000 bags while Exports of Jeera between Apr-Dec 2013 stood at 96,500 tn, up 89% as against 50,944 tn between Apr-Dec 2012. According to IBIS India’s Jeera exports have crossed 1,00,000 tonnes till Feb’14. Production of Jeera in 2013-14 is expected around 45-50 lakh bags (55 kgs each), higher than 40-45 lakh bags last year. While daily Weather in Major Jeera Producing Areas was mainly dry over Gujarat. Maximum temperatures are above normal by 2-4°C at many places over Gujarat. On Sunday, weather will be mainly cloudy in the districts of Gujarat state and in Diu. Daman, Dadra Nagar Haveli. Also, heat wave conditions would prevail at isolated places over Rajasthan. Outlook for this week remain firm while prices may see selling pressure near to 11800-850 level as farmers may offload there ample stocks on expectation of higher returns for their produce, as prices rose sharply in recent sessions. Technically market is under fresh buying as market has witnessed gain in open interest by 1.12% to settled at 5436 while prices up 110 rupee, now Jeera is getting support at 11497 and below same could see a test of 11408 level, And resistance is now likely to be seen at 11657, a move above could see prices testing 11728.

Jeera trading range for the day is 11398-11718.

Jeera gained on fresh export demand also arrivals remained low which is supportive the prices.

Geo-political tensions in Syria and Turkey have led to a supply crunch in the global markets raising supply concerns from the two major exporting countries.

Farmers may offload there ample stocks on expectation of higher returns for their produce, as prices rose sharply in recent sessions.

In Unjha, a key spot market in Gujarat, jeera remains unchanged at0 rupees to end at 11375.65 rupee per 100 kg.

BUY JEERA AUG @ 11350-11420 SL BELOW 11200 TGT 11560-11680-11800. NCDEX (2-3 DAYS)