NCDEX Updates

Jeera settled 0.48% higher at Rs 20,835, bolstered by a reduction in the availability of premium-quality bold seeds, as arrivals in key markets such as Unjha and Rajasthan started to decline. While the general physical availability remains consistent, the supplies of export-grade high-purity seeds are diminishing more rapidly than anticipated. Concurrently, blight outbreaks in significant growing regions of Gujarat have negatively impacted both the quality of the crops and the volumes that can be harvested. Production concerns persist despite a decrease in sowing, with domestic jeera output projected at 90–92 lakh bags this season, a decline from 1.10 crore bags in the previous year.

Gujarat’s production is estimated to be between 42 and 45 lakh bags, whereas Rajasthan’s output is projected to range from 48 to 50 lakh bags. Adverse weather conditions have led to a downward revision of China’s production estimate to a range of 70,000 to 80,000 tonnes. In contrast, Syria, Turkey, and Afghanistan are projected to yield approximately 9,000 to 10,000 tonnes, 10,000 to 11,000 tonnes, and 10,000 to 12,000 tonnes, respectively. However, the potential for upside appears constrained as farmers are in the process of liquidating stocks in preparation for Kharif sowing, while increasing NCDEX warehouse inventories have diminished the urgency among traders.

Large spice grinders are exhibiting caution regarding bulk purchases, while domestic processors are adhering to a hand-to-mouth procurement strategy. Enhanced production expectations in Turkey and Syria are exerting pressure on Indian export premiums. Meanwhile, buyers from Europe and North America have re-entered the market for residue-compliant and high-specification lots. India’s jeera exports experienced a significant decline of 34% year-on-year, totalling 10,713 tonnes in June 2026. Furthermore, exports for the April-June period saw a reduction of 25%, amounting to 44,144 tonnes. Robust expansion in exports to Singapore, Oman, and Argentina has somewhat mitigated the overall downturn.

In Unjha, spot prices concluded at Rs 20,534.4, reflecting a decline of 0.12%. From a technical perspective, the market is currently experiencing a phase of short-covering, evidenced by a 0.81% decrease in open interest to 9,180, alongside a price increase of Rs 100. Jeera exhibits support levels at Rs 20,730 and Rs 20,610, with resistance identified at Rs 20,910. A persistent movement beyond this resistance could propel prices toward Rs 20,970.