Jeera yesterday settled marginally higher by 0.10% at Rs 19,515 due to bargain buying at lower levels, influenced by thin arrivals as the ongoing Diwali holidays curtailed market activity. The increase in gains can be attributed to the GST Council’s resolution to reduce the GST rate on jeera to 5%, a move anticipated to enhance exports related to FMCG and stimulate domestic consumption. Nonetheless, the potential for upside appears constrained as a result of weakened export demand subsequent to the conclusion of the retail season and a lack of significant overseas purchasing interest.

Market participants observed that ample supplies and lackluster exports are maintaining a cautious sentiment in the market. Farmers continue to retain approximately 20 lakh bags of cumin, with projections indicating that merely 3–4 lakh bags will be traded by the season’s conclusion, resulting in an estimated carry-forward stock of around 16 lakh bags. Current season production is projected at 90–92 lakh bags, a modest decline from last year’s 1.10 crore bags, bolstered by favorable weather and crop conditions. Gujarat’s production is estimated at 42–45 lakh bags, whereas Rajasthan is projected to yield approximately 48–50 lakh bags.

Globally, cumin production in China has been adjusted to 70–80 thousand tonnes as a result of unfavorable weather conditions, whereas Syria, Turkey, and Afghanistan together account for approximately 30–33 thousand tonnes. In terms of exports, jeera shipments from April to August 2025 experienced a decline of 17.02% compared to the previous year, totaling 85,977 tonnes. However, exports in August saw an increase of 3.24% when compared to the previous month. In Unjha, spot prices decreased by 0.68% to 18,796.

From a technical perspective, the market is experiencing short covering, evidenced by a 1.99% decrease in open interest to 3,099, while prices have increased by Rs 20. Support levels are identified at Rs 19,420 and Rs 19,320, while resistance levels are positioned at Rs 19,620 and Rs 19,720.