Jeera prices experienced a decline in the previous session, closing down by 1.36% at Rs 21,765, influenced by ample near-term supplies and weak export demand in the context of sufficient existing stocks. Market sentiment exhibited a degree of caution as the retail season has predominantly wrapped up, while international purchasing interest remains sensitive to pricing dynamics, with existing export activities being satisfied through available stockpiles.

Spot prices in Unjha have also declined, indicative of a lack of robust buying momentum. The pace of progress has been markedly sluggish, especially in Gujarat, where jeera acreage as of December 29 was recorded at 398,596 hectares, reflecting a decline of 14.2% compared to the previous year. Inconsistent precipitation and inadequately prepared agricultural land have hindered the sowing process, leading to one of the most sluggish planting seasons observed in recent years.

Simultaneously, the influx of arrivals at Unjha continues to be notably low, with high-quality cumin fetching premium prices. Farmers are estimated to be holding approximately 20 lakh bags; however, only 3–4 lakh bags are anticipated to trade this season, resulting in significant carry-forward stocks. Current season production is projected to be lower at 90–92 lakh bags compared to 1.10 crore bags from the previous year, attributed to a decrease in sowing activities. Export data continues to exhibit weakness, as shipments from April to October have declined by 13.21% compared to the previous year, notwithstanding a slight uptick in demand from the Gulf and China.

From a technical perspective, the market is experiencing long liquidation, evidenced by an 8.48% decrease in open interest to 3,336 contracts, coinciding with a price decline of Rs 300. Jeera establishes a support level at Rs 21,600, with additional downside potential at Rs 21,440, while resistance is identified at Rs 22,040 and Rs 22,320.