Jeera prices increased by 0.52% to close at Rs 22,400, primarily driven by apprehensions regarding weather conditions in significant production areas. Increasing temperature warnings in North Gujarat have heightened concerns regarding potential heatwaves, which may adversely affect seed development in late-sown crops and subsequently reduce yields. Production is anticipated to decrease by approximately 5% this year, with Gujarat experiencing a significant reduction attributed to diminished acreage and subpar yields.

Nonetheless, gains are constrained as new crop arrivals have begun to enter the market and are anticipated to increase in volume in the forthcoming weeks. Abundant supply levels coupled with subdued export demand are contributing to a negative sentiment. Sowing in Gujarat has experienced a significant slowdown, declining by more than 14% compared to the previous year, whereas Rajasthan is expected to mitigate some of these losses through increased output bolstered by improved yields.

On the demand side, premium-quality cumin continues to experience consistent purchasing activity; however, the overall export performance remains constrained. Shipments have experienced a notable decline on both a monthly and cumulative basis, indicative of weakened global demand and persistent geopolitical disruptions impacting trade flows.

The market is currently experiencing short covering, evidenced by a significant decline in open interest in conjunction with increasing prices. Immediate support is observed at Rs 22,170, with potential further decline towards Rs 21,930. On the upside, resistance is positioned at Rs 22,760, and a movement beyond this threshold could propel prices towards Rs 23,110.