Jeera prices rose

New Delhi. Jeera prices rose 0.59% to 19,545 as short positions emerged following recent losses due to weak domestic and export demand following the end of the retail season. Traders noted that the end of the peak buying period and the lack of fresh foreign orders had affected sentiment, despite stable stocks and ample reserves. Farmers still have around 20 lakh bags of cumin, but only 3-4 lakh bags are expected to be sold by the end of the season, leaving around 16 lakh bags as reserves for the next round. Production for the current season is forecast at 90-92 lakh bags, down from 1.10 crore bags last year, due to reduced sown area despite favorable growing conditions.

In Gujarat, production is estimated at 42-45 lakh bags, and in Rajasthan at 48-50 lakh bags. Global supply disruptions caused by geopolitical tensions in Syria, Turkey and Afghanistan have not yet translated into increased export demand for India, weakening market confidence. Mandi bhav