Jeera on NCDEX settled down by -0.24% at 16670 amid hopes of up in arrivals from across the major growing regions but empty pipeline would limit the aggressive price fall. Jeera arrivals have started rising in all the major markets of Gujarat while demand continued to be slack. Arrivals are likely to rise in the coming days after Holi festival farmers may hold stocks if prices continue to decline. A section of trade is expecting lower output due to fall in output due to fall in sowing in Gujarat. In Gujarat, jeera sowing fell to 278,000 hectares from 295,000 hectare, state government data showed. India imported around 2,550 ton jeera during Apr-Oct as against negligible in the previous year. India's Apr-Sept jeera exports spurted 49% to 68,660 ton on increased shipments to Bangladesh and China. Current year new Jeera crop enter to the market in Porbandar and Junagarh regions, 2016-17 Jeera area reported in Porbandar around 12100 hectares and in Junagarh 5300 hectares. Sources revealed that, around 250 - 300 bags coming daily basis from last one week. Due to higher moisture content buyers were quoted lower prices. Jeera standing crop reported well in Gujarat state current year. Sowing has been good so far and weather conditions are also favorable for jeera crop. As all is going well as exporters are not buying in large quantities but are waiting for the new crop. In Unjha, a key spot market in Gujarat, jeera edged down by -271.8 Rupees to end at 17061.55 Rupees per 100 kg. Technically now Jeera is getting support at 16480 and below same could see a test of 16295 level, And resistance is now likely to be seen at 16825, a move above could see prices testing 16985.

Trading Ideas:

Jeera trading range for the day is 16295-16985.

Jeera dropped amid hopes of up in arrivals from across the major growing regions.

Jeera arrivals have started rising in all the major markets of Gujarat while demand continued to be slack.

Arrivals are likely to rise in the coming days after Holi festival farmers may hold stocks if prices continue to decline.

In Unjha, a key spot market in Gujarat, jeera edged down by -271.8 Rupees to end at 17061.55 Rupees per 100 kg.