Jeera on NCDEX settled down -1.62% at 16710 on heavy arrivals of jeera from the producing belts of Gujarat. The reports showed that 5,924 tons of jeera arrived during February 20-25 compared to 3,044 tons in the previous week. Jeera (Cumin) output in India may fall by 12 per cent to 387,000 tonnes during 2016-17 due to lower acreage and adverse weather conditions. The country had produced 438,000 tonne of the spice in 2015-16. Gujarat, the highest jeera-producing state in the country, has reported a fall in area under the crop by six per cent to 278,700 hectares in 2016-17, from 295,200 hectares in 2015-16, according to state agriculture department data. As per the second advance estimate of the Gujarat government, the state is estimating 212,000 tonnes of jeera production for the year 2016-17. Last year it was around 238,000 tonnes. This year, during the sowing and growing period, especially in December and January so far, the weather has not been favourable for jeera crop in Gujarat and Rajasthan, which are the top producing states. At Rajkot market in Rajkot (Guj.), estimated market supply was at 7200 quintalup by 7200 quintal as compared to previous day. At Unjha market in Mehsana, total arrivals are at 32000 quintals, up by 5000 quintals from previous day’s arrivals. Technically market is under fresh selling as market has witnessed gain in open interest by 1.43% to settled at 5538 while prices down -275 rupees, now Jeera is getting support at 16582 and below same could see a test of 16453 level, And resistance is now likely to be seen at 16907, a move above could see prices testing 17103.

Trading Ideas:

# Jeera trading range for the day is 16455-17105.

# Jeera prices ended with losses on heavy arrivals of jeera from the producing belts of Gujarat.

# Jeera output in India may fall by 12 per cent to 387,000 tonnes during 2016-17 due to lower acreage and adverse weather conditions

# The reports showed that 5,924 tons of jeera arrived during February 20-25 compared to 3,044 tons in the previous week.

# In Unjha, a key spot market in Gujarat, jeera edged up by 3.35 Rupees to end at 17333.35 Rupees per 100 kg.