Jeera settled up 0.59% at 11150 amid pick-up in demand in the spot markets against restricted arrivals from producing regions. At Unjha market in Mehsana sources reported arrivals at 6000 quintals, steady as against previous day’s arrival. At Rajkot market sources reported arrivals at 845 quintals, higher by 374 quintals from previous trading day. The market sources suggested that heavy stocks of around 63 lakh bags in local mandies will encourage stockiest selling at every spurt in local mandies. The total stocks in local mandies were almost double of the previous year`s level of 32 lakh bags due to record production in the current year. The sources added that fresh supplies in international market have reduced the traders demand in local mandies. Sources expect arrivals to remain moderate but till exports pick up significantly, trend likely to remain slight weak as of now. Area under jeera in Gujarat was reported at 455,000 ha as against 335,200 ha last year while about 390,000 ha were sown in Rajasthan. 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. Export orders are diverted to India. Production is also expected to fall in Syria and Turkey due to crop failure. In Unjha, a key spot market in Gujarat, jeera edged down by -78.35 rupees to end at 11166.65 rupee per 100 kg. Technically market is under short covering as market has witnessed drop in open interest by -3.53% to settled at 7461 while prices up 65 rupee, now Jeera is getting support at 11086 and below same could see a test of 11023 level, And resistance is now likely to be seen at 11201, a move above could see prices testing 11253.

Trading Ideas:

Jeera trading range for the day is 11023-11253.

Jeera prices ended with gains amid pick-up in demand in the spot markets against restricted arrivals from producing regions.

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

At Rajkot market sources reported arrivals at 845 quintals, higher by 374 quintals from previous trading day.

In Unjha, a key spot market in Gujarat, jeera edged down by -78.35 rupees to end at 11166.65 rupee per 100 kg.