Cardamom edges higher, sell at Rs.1205-10

April 20, 2012.

Cardamom prices are expected to continue the correction during the day on back of exporter resistance in bulk buying. Despite of fall in arrivals quality is also becoming poor which is weighing on prices.

However, unfavourable weather conditions in major growing regions are creating threat to next season crop, which might support the prices to resume uptrend in near term.

Total daily arrivals at spot auction held in Kerala were around 42,307 Kgs. on Thursday. According to traders’ estimates if weather condition remains unfavourable then it might result in 5-10% lower production in coming season.

Total arrivals during this season, from August 1 were 16,041 tonnes and sales 15,535 tonnes, against 8,732 tonnes of arrivals and 8,511 tonnes of sales in the same period last year

According to derivative analysis, prices and volumes have declined further while open interest has increased. This indicates that participation has declined. It is a good indication that a small rally against downtrend will develop creating a sell point for downtrend.

Cardamom MCX May-12 support:1156 1170 resistance:1202 1217 Sell at 1205-10 TP 1166 SL 1240

http://www.commodityonline.com/futures-trading/trading-tips/MCX-Cardamom-edges-higher-sell-at-Rs.1205-10:Karvy-17679.html

Courtesy:Karvy Comtrade Ltd.

Cardamom up on spot demand

Press Trust of India / New Delhi Mar 29, 2012, 13:02 IST

Cardamom prices were up by Rs 6.30 to Rs 1163.90 per kg in futures trade today as speculators created fresh positions amid a firming trend at spot markets.
Restricted arrivals in the physical markets from producing regions also supported the uptrend in cardamom prices.

At the Multi Commodity Exchange, the April cardamom rose by Rs 6.30, or 0.54% to Rs 1,163.90 per kg in business turnover of 630 lots.
The May spice moved up by Rs 3.60, or 0.28% to Rs 1,293 per kg in 272 lots.

Analysts said fresh buying by speculators on the back of a rise in demand in the spot market against limited arrivals from producing belts mainly led to rise in cardamom prices at futures trading here.

http://business-standard.com/india/news/cardamom-upspot-demand/161771/on

Cardamom gains 1.4% on spot demand

Press Trust of India / New Delhi Mar 07, 2012, 15:07 IST

Cardamom prices rose by Rs 14.40 to Rs 1,028.90 per kg in futures trade today as speculators created fresh positions, tracking a firming spot market trend on pick-up in demand.

Less arrivals from producing region also supported the uptrend in cardamom futures.

At the Multi Commodity Exchange, cardamom for delivery in April rose by Rs 14.40, or 1.42%, to Rs 1,028.90 per kg, with a business turnover of 399 lots.

March cardamom gained Rs 5.10, or 0.53%, to Rs 968 per kg, with a business turnover of 687 lots.

Market analysts said fresh buying by speculators on the back of pick-up in spot market demand mainly led to rise in cardamom prices at futures trade.

Cardamom up on fresh spot demand

Press Trust of India / New Delhi November 01, 2011, 11:42 IST

Cardamom futures prices moved up by Rs 6.10 to Rs 668.50 per kg today on fresh demand in the spot market, driven by the ongoing wedding season.

Restricted arrivals from producing region also supported the uptrend in cardamom futures prices.

At the Multi Commodity Exchange, November cardamom gained Rs 6.10, or 0.92%, to Rs 668.50 per kg, with a business turnover of 536 lots.

The December delivery moved up by Rs 6, or 0.84%, to Rs 719.30 per kg, with a trade volume of 212 lots.

Traders said fresh demand in the spot markets on account of the ongoing marriage season and restricted arrivals from southern producing region mainly led to the rise in cardamom futures prices here.

Taken From: http://business-standard.com/india/news/cardamom-upfresh-spot-demand/150021/on