Jeera yesterday concluded at Rs 19,410, reflecting a decline of -0.61%, as subdued domestic and export demand following the retail season exerted downward pressure on prices. Market participants observed that the end of the retail season, coupled with a lack of enthusiasm from international purchasers, resulted in a dampened demand environment. Ample supplies and lackluster international purchasing have intensified pressure, despite the anticipation of some relief in domestic demand following the GST council’s decision to reduce GST on jeera to 5%. This adjustment is expected to bolster both FMCG exports and internal consumption.

Market confidence has been undermined by sluggish export demand, even in the face of supply disruptions in other producing nations such as Syria, Turkey, and Afghanistan. India’s jeera production for the current season is anticipated to be between 90 and 92 lakh bags, a decline from last year’s figure of 1.10 crore bags. Gujarat is expected to account for 42 to 45 lakh bags, while Rajasthan is projected to contribute 48 to 50 lakh bags.

Jeera exports from April to July 2025 experienced a significant decline of 19.81%, totaling 73,026.35 tonnes compared to 91,070.02 tonnes in the previous year. In July, shipments experienced a decline of 20.83% year-on-year, totaling 13,778.60 tonnes, and also decreased by 15.58% in comparison to June 2025, indicative of diminishing global demand.

From a technical perspective, the market is experiencing renewed selling pressure, evidenced by a 0.42% increase in open interest to 3,606, alongside a price decline of Rs 120. Support is established at Rs 19,330, with the possibility of testing Rs 19,240 if this level is breached. Resistance is identified at Rs 19,530, and a breakout could lead to potential gains toward Rs 19,640.