NCDEX Jeera

Contract Specifications of Jeera

NCDEX Jeera: Live Prices, Market Insights, and Trading Overview

NCDEX Jeera refers to the futures contracts for cumin seeds traded on the National Commodity & Derivatives Exchange (NCDEX) in India. Jeera is one of India’s most widely used spices, and its prices are influenced by domestic production, monsoon patterns, export demand, and global spice markets.

NCDEX Jeera futures provide a mechanism for farmers, exporters, and traders to hedge price risk or speculate on market movements. With India being the largest producer and exporter of cumin seeds globally, NCDEX Jeera is an important commodity for both domestic and international trade.

What Are NCDEX Jeera Futures?

NCDEX Jeera futures are standardized contracts representing a specific quantity of cumin seeds, typically 5 metric tonnes per contract. These contracts have defined delivery months, tick sizes, and trading hours, allowing market participants to manage price risks efficiently.

Key features:

• Contract Size: 5 MT per lot
• Tick Size: ₹0.05 per kg
• Trading Hours: 10:00 AM – 11:30 PM IST
• Settlement: Physical delivery or cash settlement at expiry

Jeera futures prices reflect the balance between supply from major producing states like Rajasthan and Gujarat and domestic and international demand.

Factors Influencing NCDEX Jeera Prices

1. Monsoon and Crop Production: Cumin is a kharif crop; rainfall patterns significantly impact yield. Poor monsoon can trigger supply shortages and price spikes.
2. Export Demand: India exports a large portion of cumin seeds, mainly to the Middle East and Southeast Asia. Strong export demand drives prices higher.
3. Currency Fluctuations: A weaker Indian Rupee can increase export competitiveness, impacting domestic MCX and NCDEX prices.
4. Government Policies: Minimum Support Prices (MSP), subsidies, and trade regulations influence production incentives and market pricing.
5. Global Spice Market: Prices in international markets, particularly in Iran, Turkey, and other cumin-producing countries, impact NCDEX Jeera futures.

Trading NCDEX Jeera Futures

Trading NCDEX Jeera futures requires understanding market fundamentals, contract specifications, and seasonal patterns. Popular trading strategies include:

• Hedging: Farmers and traders use futures to secure selling prices in advance and mitigate risks from price volatility.
• Speculation: Short-term traders capitalize on market trends driven by supply-demand shifts, export updates, and monsoon reports.
• Spread Trading: Traders may pair Jeera futures with other spices like coriander or turmeric to hedge against relative price movements.

Technical analysis tools, such as moving averages, RSI, and candlestick patterns, are commonly used to identify trading opportunities in NCDEX Jeera.

Historical Perspective

Jeera has been a critical spice in India for centuries, and organized trading on NCDEX began in the early 2000s. Over the past two decades:

• 2000s: Prices were influenced by domestic supply and export demand. Limited market transparency led to frequent price fluctuations.
• 2010s: Increased participation from institutional traders and better market infrastructure stabilized trading. Export demand and monsoon-dependent supply became major drivers.
• 2020s: Climate variability, global supply chain disruptions, and rising international demand have led to higher volatility in NCDEX Jeera futures.

Recent Update on NCDEX Jeera

As of September 2025, NCDEX Jeera is trading at moderate levels due to:

• Adequate crop production in major producing states following favorable monsoon conditions.
• Steady export demand from Middle Eastern markets.
• Domestic consumption supporting stable market prices.

Traders are monitoring weather updates, government policies, and international spice market trends closely to anticipate price movements.

NCDEX Jeera vs Spot Market

While the spot market reflects current physical prices of cumin seeds, NCDEX Jeera futures allow for risk management and forward pricing. Futures contracts often provide early indications of market sentiment before changes appear in spot prices.

Outlook for NCDEX Jeera

With India’s dominance in cumin production and growing global demand, NCDEX Jeera futures are expected to remain actively traded. Seasonal variations, weather conditions, and export trends will continue to drive price volatility, making futures trading an essential tool for farmers, exporters, and speculators alike.

NCDEX Jeera Futures FAQ

Q. What are NCDEX Jeera Futures?

A. NCDEX Jeera Futures are futures contracts based on jeera (cumin), a key spice commodity in India, traded on the National Commodity & Derivatives Exchange (NCDEX). Jeera is primarily grown in regions like Unjha in Gujarat, and these futures provide a platform for price discovery and hedging against fluctuations in cumin prices, often referenced in agricultural market news on platforms like Reuters or Bloomberg as an indicator of spice market trends and farmer sentiment.

Q. What are NCDEX Jeera Futures Contracts?

A. NCDEX Jeera Futures Contracts are standardized agreements to buy or sell 1 metric tonne (MT) of jeera at a predetermined price on a future date, traded on the NCDEX platform. The contracts are cash-settled based on the spot price at Unjha, with a tick size of INR 10 per quintal. These contracts are highly liquid and volatile, offering traders multiple opportunities for profitable trades during daily sessions. For example, if you’re bullish on jeera prices, you can go long on a futures contract, profiting from each point increase in the price. Conversely, if bearish, you can short the contract, gaining from price declines.

Q. What are the trading hours for NCDEX Jeera Futures?

A. Trading for NCDEX Jeera Futures occurs from Monday to Friday, 9:00 a.m. to 5:00 p.m. IST, and on Saturdays from 10:00 a.m. to 2:00 p.m. IST. Unlike global exchanges, there is no evening or weekend trading beyond these hours, aligning with Indian agricultural market schedules to provide active trading opportunities during business days.

Q. Why and when were NCDEX Jeera Futures created?

A. Jeera, also known as cumin or zira, is a vital spice sown between late October and early November, harvested after 3-4 months, mainly in Gujarat’s Unjha region. NCDEX Jeera Futures were launched in 2004 by the National Commodity & Derivatives Exchange to enable farmers, processors, and traders to hedge against price volatility in the spice market. Designed to reflect the health of India’s agricultural economy, these futures serve as a critical tool for assessing commodity sentiment and trends in the spice sector.

Q. What are the risks and benefits of NCDEX Jeera Futures trading?

A. NCDEX Jeera Futures trading differs from traditional commodity investing and carries significant risks. The volatility of jeera prices, influenced by weather, demand, and exports, can lead to substantial gains but also rapid losses, making it unsuitable for conservative investors. Traders who can actively monitor the market and tolerate risk may capitalize on both long and short positions, as futures allow shorting without restrictions. However, without disciplined risk management, traders risk margin calls if positions move unfavorably. The benefit lies in the potential for high returns due to the leverage and liquidity of these contracts, but constant attention to market movements is essential.

Q. How can I learn NCDEX Jeera Futures trading?

A. NCDEX Jeera Futures are a popular choice among agricultural traders, but beginners often face challenges due to limited understanding of commodity market dynamics and trading strategies. Success demands a robust trading plan, strict risk management, and deep market knowledge. Novice traders can accelerate their learning by joining online trading communities or live trading rooms led by experienced NCDEX Jeera traders. These platforms enable beginners to observe real-time market analysis, learn strategies suited to their risk tolerance, and gain confidence. Using simulated accounts before trading with real money can also minimize costly errors.

Q. What are other names used for NCDEX Jeera Futures?

A. NCDEX Jeera Futures are known by several names or aliases, including:

• Cumin Futures
• Zira Futures
• Jira Futures
• Unjha Jeera Futures
• JEERAUNJHA Futures (NCDEX ticker symbol)
• Spice Jeera Futures