Jeera settled up 1.88% at 12745 on some fresh export demand though
increased acreage and prospects of higher production weighed on
sentiment. Export demand is supporting but hopes of higher production
are keeping the upside limited. Farmers in the key cultivating states
have raised the area under the cultivation due to ample rains in the
monsoon season and favourable weather. Jeera is a winter crop sown from
October. Farmers mainly depend on the rains to moisten the land for
sowing. Supplies from the new season crop are expected to hit the market
from mid-February. India exported 67,500 tonnes of cumin seed during
April-September 2013, up from 35,018 tonnes in the year-earlier period,
data from the Spices Board of India showed. With sowing being reported
higher in the growing States of Gujarat and Rajasthan and weather being
conducive for the crop growth, the uptrend may be limited. Sources
anticipate exports to rise in coming months amidst reports of lower
production in Turkey and Syria. Latest reports from the Spices Board peg
exports at 67,500 tonnes up by 93 per cent in volume and value during
April-September 2013 compared with the same period a year ago. In Unjha,
a key spot market in Gujarat, jeera edged up by 15.9 rupees to end at
12680 rupee per 100 kg. Now Jeera is getting support at 12522 and below
same could see a test of 12298 level, And resistance is now likely to be
seen at 12887, a move above could see prices testing 13028.

Trading Ideas:

Jeera trading range for the day is 12303-13033.

Jeera edged up on some fresh export demand though increased acreage and prospects of higher production weighed on sentiment.

Export demand is supporting but hopes of higher production are keeping the upside limited.

Supplies from the new season crop are expected to hit the market from mid-February.

In Unjha, a key spot market in Gujarat, jeera edged up by 15.9 rupees to end at 12680 rupee per 100 kg.