Jeera prices experienced an increase of 4.17%, closing at Rs 20,850. This rise is attributed to the diminishing availability of premium-quality supplies and a resurgence of export interest from international buyers. Demand from European and North American importers has shown improvement, especially for residue-compliant and high-specification lots. Concurrently, domestic industrial processors have also ramped up their procurement at prevailing price levels. Market sentiment was bolstered by apprehensions regarding quality losses stemming from unseasonal thunderstorms and hailstorms in certain regions of Rajasthan during the harvest period.

Weather-related disruptions have hindered drying and processing activities, leading to apprehensions regarding the availability of high-grade produce and resulting in temporary supply gaps within the market. Despite the robust price recovery, gains were somewhat constrained by increased arrivals of the new crop from key producing regions. Favourable harvesting conditions in northwestern India have accelerated crop arrivals, resulting in increased supplies in key markets. Farmers have been engaged in the active liquidation of stocks to raise capital for the forthcoming Kharif sowing season. Daily arrivals at Unjha mandi have reached a steady state, hovering around 28,500 bags, ensuring sufficient near-term supply.

However, market participants observe that the proportion of premium “Sortex” grade carryover stocks is diminished compared to the previous year, which bolsters prices for quality produce. Fundamentally, production prospects continue to provide support for prices. Estimates suggest that India’s cumin production could decrease to approximately 90-92 lakh bags this season, down from 1.10 crore bags in the previous year. This decline is attributed to reduced acreage and lower yields, especially in Gujarat. Reports of blight disease in certain growing regions have adversely impacted crop quality and output. Export performance exhibits a mixed landscape, as March shipments experienced a decline of 15.54% year-on-year.

However, there was a notable improvement in exports relative to February, suggesting a gradual recovery in international demand. Technically, the market is experiencing new buying activity, as evidenced by an 8.18% increase in open interest alongside a significant rise in prices. Jeera exhibits immediate support at Rs 20,250, with subsequent support at Rs 19,660. Resistance is identified at Rs 21,250, and a consistent movement above this threshold may initiate additional upward momentum towards Rs 21,660.