Jeera on NCDEX settled down -0.72% at 16595 due to fall in domestic as well as export demand at the spot market. Further, anticipation of good crop from the producing regions in the next season too fuelled the downtrend. The sources stated that countries like China and Bangladesh have reported strong demand of Indian jeera in local mandies.

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Traders are expecting jeera export during the current fiscal around 120,000 ton up from 98,700 ton last year. However traders are hoping higher sowing this year because of attractive prices in the market. As per fourth advance estimate of Gujarat State for 2015-16, jeera production is pegged at 238,000 ton as against 197,000 ton a year ago. However, it is much lower than 2013-14 output when the state produced 346,000 ton jeera.

                              Trading Ideas  

1. Jeera trading range for the day is 16340-16980.
2. Jeera prices ended with losses due to fall in domestic as well as export demand at the spot market.
3. In Unjha, a key spot market in Gujarat, jeera edged up by 12.5 rupees to end at 17475 rupee per 100 kg.