Jeera prices concluded the trading session nearly unchanged, experiencing a slight decline of 0.02% to Rs 22,715, as the influx of the new crop in certain mandis contributed to a cautious market sentiment. Arrivals are anticipated to accelerate starting in March, contributing to some immediate pressure. Abundant supplies and a lack of robust export interest have exerted downward pressure on the market, as current foreign demand is predominantly satisfied by existing inventories. Nevertheless, the potential drawbacks seem constrained.

Sowing in Gujarat has decreased by 14.34% year-on-year, now at 4.08 lakh hectares. National production for 2026 is projected to be between 90 and 92 lakh bags, a notable decline from last year’s 1.10 crore bags. Rajasthan has reported an increase in the risks associated with aphid infestations. In Unjha, supply remains constrained, and high-quality produce continues to command premium prices.

Disruptions related to logistics and weather in the Middle East, coupled with reduced output projections in nations such as China and Syria, are maintaining a relatively tight global supply environment. Export data, however, continues to exhibit weakness. Shipments from April to December have declined by more than 12% compared to the previous year, indicating a lack of robust global purchasing demand.

From a technical perspective, the market is experiencing new selling pressure, as indicated by a 1.65% increase in open interest. Immediate support is identified at Rs 22,440, with a potential decline towards Rs 22,160. Resistance is positioned at Rs 22,980, and a breach above this level may propel prices toward Rs 23,240.