Jeera prices declined by 0.82% to close at Rs 23,520, primarily influenced by profit booking as new crop arrivals have commenced in several markets. Arrivals are anticipated to accelerate starting in March, which has maintained a degree of near-term sentiment under pressure. Ample supplies and muted export demand, coupled with sufficient existing inventories, have also exerted downward pressure on prices. Nonetheless, the drawbacks seem constrained as weather-related challenges and postponed sowing persist in providing fundamental backing to the market.

Gujarat is experiencing a notably sluggish sowing season compared to recent years, as jeera acreage has declined significantly by 14.34% to 4.08 lakh hectares. In Unjha, the volume of arrivals remains notably low, while premium-quality cumin consistently commands elevated prices. Export demand from Gulf countries and China has exhibited slight enhancement, yet it continues to be sensitive to price fluctuations. Logistical challenges and weather disruptions across India and the Middle East are constraining supplies, thereby providing support to prices.

Nonetheless, the potential for growth appears limited as the retail season has concluded and foreign purchasing remains subdued, with the majority of export demand satisfied by current inventories. It is estimated that farmers are holding approximately 20 lakh bags, with only 3–4 lakh bags expected to be traded this season, resulting in significant carry-forward stocks.

On the technical front, the market is experiencing long liquidation, evidenced by a 1.9% decrease in open interest alongside a Rs 195 price decline. Support is identified at Rs 23,210, beneath which prices could approach Rs 22,900, while resistance is established at Rs 23,780, with a possible upward movement towards Rs 24,040.