Jeera prices fell by 0.80% to close at Rs 21,130, influenced by heightened selling activity from farmers and an increase in warehouse inventories, which negatively impacted market sentiment. Farmers persisted in liquidating inventories to secure cash for the current Kharif sowing season, as favourable weather conditions in north-western India facilitated harvesting, drying, and market arrivals. The gradual accumulation of NCDEX warehouse stocks has diminished the immediacy for spot purchases, as significant spice processors adopt a prudent hand-to-mouth buying approach.

Fundamentally, the downside remained constrained due to the tightening availability of premium-quality bold seeds, which continue to draw export demand. While overall crop availability remains adequate, supplies of export-grade residue-compliant lots are diminishing at a rate that exceeds prior expectations. Daily arrivals in key markets such as Unjha and Rajasthan have begun to decrease, which is providing support for prices at lower levels. However, geopolitical tensions in the Middle East, weaker-than-expected buying from China, and improving production prospects in Turkey and Syria have constrained export premiums.

Reports of blight disease in parts of Gujarat have adversely impacted crop quality and diminished the supply of high-grade seeds. Current estimates indicate that India’s jeera production is approximately 90–92 lakh bags, a decrease from last year’s figure of 1.10 crore bags. Gujarat is expected to contribute 42–45 lakh bags, while Rajasthan’s contribution is projected at 48–50 lakh bags. India’s jeera exports experienced a year-on-year decline of 26%, totalling 17,177 tonnes in May. Additionally, cumulative exports for April and May decreased by 22%.

However, exports to Singapore, Mexico, Yemen, and Poland exhibited robust growth, partially counterbalancing the diminished demand from conventional markets. Spot prices in Unjha held steady at Rs 20,786.7 per quintal. Technically, jeera experienced long liquidation, as open interest decreased by 1.76% in conjunction with falling prices. Immediate support is positioned at Rs 21,040, with subsequent support at Rs 20,960, while resistance is identified at Rs 21,220. A sustained move above this level could extend gains towards Rs 21,320.