Thursday, September 3, 2015

Restricted supply, firm demand lifts Cardamom futures

Cardamom prices rose by 0.20 per cent on Thursday at the Multi Commodity Exchange (MCX) on account of good buying support from both exporters and upcountry buyers and also on hopes of improved export demand. At MCX, Cardamom futures for September 2015 contract were trading at Rs 975.40 per kg, up by 0.20 per cent, after opening at Rs. 972 against the previous closing price of Rs. 973.50. It touched the intra-day high of Rs. 976.70 till the trading. (At 10.45 AM today). Sentiment improved further as a result of firm demand in the market against restricted arrivals from producing belts of Chandausi in Uttar Pradesh.Kerala (70 per cent), Karnataka (20 per cent) and Tamil Nadu (10 per cent) are the cardamom growing states in India while about 90 per cent of the produce is consumed within the nation. The important markets for cardamom in India are Vandanmendu, Bodinayakanur, Kumily, Thekkady, Kumbum and Pattiveeran Patti in Kerala.

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