On NCDEX settled down by -0.41% at 19390 amid easing demand at the spot market. However, some losses were capped due to lower arrivals from growing regions following reports of damage to stored jeera in Gujarat due to heavy rains. Jeera supply from the key producing regions is sufficient while the export as well as domestic demand in the market is sluggish. In June, arrival record at 8,072 tonnes. As per the data release by government, Jeera exports during first five months in 2017 is 5039 tonnes, up 9.7% compared to last year exports volume for the same period. 

Chinese crop has been lower than expected. But next week, we will see whether buyers are willing to take jeera from India at the current price levels. Even now, we have to pay higher price in the local market to get sufficient load for export. Turkey is offering cumin at $2,900 per tonne, which is $100 less than the Indian price, though the quantity on offer is much lower than that offered by India, which continues to be a major cumin supplier to the world market.

Trading Ideas:

# Jeera trading range for the day is 19210-19660.

# Jeera prices ended with losses amid easing demand at the spot market.

# However, some losses were capped due to lower arrivals from growing regions following reports of damage to stored jeera in Gujarat due to heavy rains.

# NCDEX accredited warehouses jeera stocks gained by 33 tonnes to 2473 tonnes.

# In Unjha, a key spot market in Gujarat, jeera edged down by -62.45 Rupees to end at 19246.65 Rupees per 100 kg.

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