Friday, May 9, 2014

Cardamom increases on strong demand outlook

Published on Friday, May 09, 2014 4:30 PM | Source: Dion Global Solutions Ltd

Cardamom prices rose by 2.56 per cent on Friday 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. 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. At MCX, Cardamom futures for May 2014 contract were trading at Rs 1058 per kg, up by 2.56 per cent, after opening at Rs. 1050 against the previous closing price of Rs. 1031.60. It touched the intra-day high of Rs. 1062.50 till the trading. (At 03.55 PM today).

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