Jeera October contract gained Rs 166 and settled at Rs 15674 per quintal on short-covering after the recent fall in the prices, outweighing weak spot demand and subdued exports. Reports of adverse weather conditions in other major producers like Turkey and Syria have created apprehensions of lower output there and a possibility of delayed arrivals, originally scheduled from end-June onwards. Syrian production expected at 40000 tonnes and that in Turkey lower at 12-15000 tonnes. Jeera exports tumbled by 40% to 7,750 tonnes while value was down by 30% to Rs 103.00 crores during the period April -July 2011. Exports of spices from India fell 24 percent in April-July to 157,725 tonnes, weighed by a sharp decline in shipments of cumin seeds and garlic, a statement from the Spices Board said late. Exports of cumin seeds fell 40 percent to 7,750 tonnes.  Jeera arrivals spurted to 10,000 bags from 6,000 bags on yesterday. According to traders, demand was reported for 11,500 bags (8,500 bags on last day). In Unjha, a key spot market in Gujarat, jeera dropped -21.05 rupees to end at 15400 rupees per 100 kg. The contract made intraday low of Rs 15395 a kg and high of Rs 15777 a kg. Support for jeera is at 15454 below that could see a test of 15233. Resistance is now seen at 15836 above that could see a resistance of 15997.

Trading Ideas:

Jeera trading range is 15237-16001.

Jeera rose on short-covering after recent fall in prices, outweighing weak spot demand and subdued exports

Exports of cumin seeds fell 40 percent to 7,750 tonnes.

NCDEX accredited warehouses jeera stocks gained by 57 tonnes to 11011 tonnes.

In Unjha, a key spot market in Gujarat, jeera dropped -21.05 rupees to end at 15400 rupees per 100 kg.