Wednesday, 4 November 2015

Cardamom falls by 0.09% on waning demand

Cardamom falls by 0.09% on waning demand
Cardamom prices fell by 0.09 per cent on Wednesday at the Multi Commodity Exchange (MCX) due to the adequate stocks availability in the physical market on account of higher supply from the producing belts of Chandausi in Uttar Pradesh. At MCX, Cardamom futures for November 2015 contract were trading at Rs. 746.30 per kg, down by 0.05 per cent, after opening at Rs. 744.10 against the previous closing price of Rs. 746.70. It touched the intra-day low of Rs. 742 till the trading. (At 10.45 AM today).
Sentiment weakened further as the traders booked profits at the prevailing levels in the midst of a subdued demand for the commodity. 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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