Friday, May 23, 2014

Cardamom falls on lower demand

Published on Friday, May 23, 2014 4:26 PM | Source: Dion Global Solutions Ltd

Cardamom prices fell by 0.85 per cent on Friday 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.

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. At MCX, Cardamom futures for May 2014 contract were trading at Rs. 963.50 per kg, down by 0.85 per cent, after opening at Rs. 970.10 against the previous closing price of Rs. 971.60. It touched the intra-day low of Rs. 957 till the trading. (At 3.40 PM today).

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