Jeera prices experienced a decline of 1.03%, closing at Rs 21,540. This decrease can be attributed to ample supplies and a lack of robust export demand, alongside sufficient existing stocks. Export interest remains subdued, as current overseas demand is primarily satisfied by existing inventories. Traders point to the conclusion of the retail season and minimal engagement from foreign buyers as significant factors exerting downward pressure on prices. Jeera exports from April to October 2025 experienced a decline of 13.21% compared to the previous year, highlighting a lack of robust international demand. Spot prices in Unjha declined by 0.39%, indicative of a prudent buying sentiment.
Nonetheless, the potential for downside appears constrained, primarily due to supply-side issues associated with postponed sowing and disruptions caused by weather conditions. In Gujarat, as of December 29, jeera sowing reached 3.99 lakh hectares, reflecting a decline of 14.2% compared to the previous year. This situation signifies one of the slowest sowing seasons observed in recent years, attributed to irregular rainfall patterns and inadequately prepared fields.
Arrivals at Unjha continue to be subdued, with high-quality cumin fetching premium prices. While it is estimated that farmers possess approximately 20 lakh bags, the anticipated trade volume is only between 3 and 4 lakh bags, 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 last year, with diminished output anticipated in major global producing areas due to unfavorable weather conditions. The support is further bolstered by the reduction of the GST to 5%, which has the potential to enhance FMCG and domestic demand.
From a technical perspective, the market is experiencing long liquidation, evidenced by a 7.73% decrease in open interest coinciding with a price drop of Rs 225. Jeera exhibits support at Rs 21,340, with potential further decline towards Rs 21,120, while resistance is identified at Rs 21,840 and subsequently at Rs 22,120.