Jeera prices yesterday exhibited minimal movement, closing slightly up by 0.03% at Rs 18,950, influenced by subdued domestic and export demand in the aftermath of the retail season’s conclusion. Downside support emerged following the GST council’s decision to lower the GST rate to 5%, a move anticipated to enhance FMCG exports and stimulate domestic consumption. Prices continued to face downward pressure owing to abundant supplies and lackluster foreign demand, as current export requirements are being satisfied by existing inventories.

It is estimated that farmers currently possess around 20 lakh bags of cumin, with only 3–4 lakh bags expected to be traded by the conclusion of the season. This would result in a carry-forward stock of roughly 16 lakh bags. The current season is anticipated to exhibit production levels akin to those of the previous year, bolstered by advantageous crop conditions and effective sowing practices. India’s production is projected to be between 90 and 92 lakh bags, with Gujarat accounting for approximately 42 to 45 lakh bags and Rajasthan contributing around 48 to 50 lakh bags.

During the period from April to July 2025, jeera exports experienced a decline of 19.81%, totaling 73,026 tonnes, in contrast to 91,070 tonnes recorded in the same timeframe the previous year. Additionally, exports in July saw a year-on-year decrease of 20.83%, amounting to 13,778.6 tonnes. In the Unjha spot market, prices experienced a decline of 0.77%, settling at 18,909.65.

From a technical perspective, the market is experiencing short covering, as evidenced by a 7.59% decline in open interest, now standing at 2,847. Support is identified at Rs 18,880, with an additional level at Rs 18,810. Resistance appears to be at Rs 19,050, and a breakthrough above this level may lead to prices approaching Rs 19,150.