Jeera on NCDEX settled down by -0.38% at 18245 on profit booking after prices gained amid pick-up in domestic as well as export demand at the spot market. Prices also seen supported on a lower output forecast and strong demand from overseas buyers. Exporters are likely to fetch better realisation due to the quality of the jeera crop. 

A recent assessment by the Federation of Indian Spices Stakeholders in Udaipur, Rajasthan, has forecast India’s cumin seed production at 5.83 million bags of 40 kg each (233,280 tonnes) this year against 4.20 million bags of 40 kg each (168,320 tonnes) last year.

Trading Ideas:

* Jeera trading range for the day is 18010-18640.

* Jeera prices ended with losses on profit booking after prices gained amid pick-up in domestic as well as export demand.

* Prices also seen supported on a lower output forecast and strong demand from overseas buyers.

* NCDEX accredited warehouses jeera stocks gained by 53 tonnes to 1175 tonnes.

* In Unjha, a key spot market in Gujarat, jeera edged down by -16.7 Rupees to end at 18416.65 Rupees per 100 kg.

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