Friday, June 3, 2016

Commodity Tips: Cardamom drops 0.09% on waning demand
Commodity Tips: Cardamom prices fell by 0.09 per cent on Friday at the Multi Commodity Exchange (MCX) due to the adequate stocks chance in the physical market on account of higher supply from the producing belts of Chandausi in Uttar Pradesh. At MCX, Cardamom futures for June 2016 agreements were trading at Rs. 810 per kg, down by 0.09 per cent, after opening at Rs. 810 against the last closing price of Rs. 810.70. It touched the intra-day low of Rs. 807 till the trading. Sentiment weakened further as the traders booked profits at the prevailing levels in the midst of a subdued demand for the commodity.

Kerala (70%), Karnataka (20%) and Tamil Nadu (10%) are the cardamom growing states in India while about 90% of the produce is consumed within the nation. The important markets for cardamom in India are Vandanmendu, Kumily, Bodinayakanur, Thekkady, Kumbum and Pattiveeran Patti in Kerala.