NCDEX JEERA settled up by 3.97% at 14795 on concerns about lower production due to a drop in the seeded area and on a delay in local supplies. Jeera is sown from October till the beginning of December and harvesting starts in February. March-April will be the months of peak arrivals. Meanwhile, late withdrawal of South-West monsoon this season resulted in increased soil moisture, which is not beneficial to cumin seeds. At New Delhi market sources reported arrivals at 6000 quintals, higher by 1000 quintals as compared to previous day. Export orders are diverted to India due to Geo-political tensions in Syria and Turkey.
In Unjha, a key spot market in Gujarat, jeera edged up by 478.55 rupees to end at 14978.55 rupee per 100 kg. Technically market is under fresh buying as market has witnessed gain in open interest by 0.75% to settled at 18078 while prices up 565 rupee, now Jeera is getting support at 14505 and below same could see a test of 14210 level, and resistance is now likely to be seen at 14945, a move above could see prices testing 15090.
In Unjha, a key spot market in Gujarat, jeera edged up by 478.55 rupees to end at 14978.55 rupee per 100 kg. Technically market is under fresh buying as market has witnessed gain in open interest by 0.75% to settled at 18078 while prices up 565 rupee, now Jeera is getting support at 14505 and below same could see a test of 14210 level, and resistance is now likely to be seen at 14945, a move above could see prices testing 15090.
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