Jeera prices concluded with a 1% increase at Rs 20,155, driven by apprehensions regarding the diminished availability of premium-quality supplies due to unfavorable weather conditions in Rajasthan. Recent thunderstorms and hailstorms occurring during the harvest stage have inflicted damage on standing crops, heightening concerns regarding a potential decline in the availability of “A-grade” quality supplies in the market. Furthermore, unseasonal rainfall in North-West India has hindered the drying and processing activities for the new crop, leading to a short-term supply gap. Market sentiment continued to exhibit support, as carry-forward stocks of high-quality “Sortex” grade jeera are reportedly diminished relative to the previous year, thereby maintaining premium pricing in principal trading centers.
Nonetheless, the potential for price increases was constrained by the rising influx of fresh crops from key producing areas in Rajasthan. Recent weeks have seen favorable harvesting conditions that enabled farmers to accelerate their harvesting activities, resulting in a sudden surge in supply instead of a staggered arrival pattern. Farmers are actively liquidating their holdings to enhance liquidity in anticipation of the Kharif sowing season, thereby exerting pressure on the market. Daily arrivals at Unjha mandi sustained a high level of approximately 28,500 bags, indicating a robust supply in the near term.
At a fundamental level, ongoing production issues persist in bolstering the overall outlook. Gujarat’s jeera production is projected to decrease by approximately 27% this season, attributed to reduced acreage and subpar yields. Additionally, the presence of blight disease in various producing regions has further compromised both crop quality and overall output. Total domestic production is projected to be approximately 90–92 lakh bags, a decrease from last year’s figure of 1.10 crore bags. Market sentiment continued to reflect optimism, driven by anticipations of heightened Chinese purchasing activity in the forthcoming months.
From a technical perspective, the market is experiencing new buying activity, evidenced by a significant increase in open interest of 17.4%, which has settled at 8,766, alongside a price rise of Rs 200. Jeera is currently finding support at Rs 19,970; a decline below this level may lead prices to test Rs 19,770. Conversely, resistance is identified at Rs 20,320, with a potential upward movement likely to challenge the Rs 20,470 mark.