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

MCX cardamom hits upper circuit

MUMBAI (Commodity Online): Cardamom futures hits upper circuit in MCX on the back of firm domestic demand amid weak arrivals from the fresh crop.

In MCX cardamom April contract hits upper circuit at Rs.1132.90 per Kg against the previous close. Open interest of the contract stood at 7970 lots and open interest pf the contract is 14749 lots.

As per market source, dry spell conditions in major growing areas have unfavorably affected the crop. According to the media sources, around 20 per cent of the plants got damaged in Idukki district. Added, some of the midlands in Idukki district received rains late last week but the high ranges continue to remain dry.

Read the Full Story Here 

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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 3% on rising demand

Press Trust of India / New Delhi Feb 28, 2012, 15:27 IST

Cardamom prices extended gains for the second straight day and rose by 3% to Rs 1,073.90 per kg in futures trading today on rising demand in the spot market.

At the Multi Commodity Exchange, the May contract for cardamom shot up by Rs 31.30, or 3%, to Rs 1,073.90 per kg, with a business turnover of 119 lots.

The March contract moved up by Rs 20.30, or 2.20%, to Rs 944.90 per kg, with an open interest of 1,785 lots.

Market analysts said besides rising demand in the spot market for the ongoing marriage season, limited arrivals from producing region mainly kept cardamom futures prices higher.

http://www.business-standard.com/india/news/cardamom3rising-demand/159054/on

Cardamom remains up on rising demand

Press Trust of India / New Delhi Feb 22, 2012, 15:07 IST

Cardamom advanced for the second straight day by adding Rs 9.70 to Rs 881 per kg in futures trading today on rising demand in the spot market, supported by the ongoing marriage season.

Restricted arrivals in the physical market from producing region also influenced the cardamom prices.

At the Multi Commodity Exchange, the April contract moved up by Rs 9.70, or 1.11%, to Rs 881 per kg, with a business turnover of 266 lots.

The March contract traded higher by Rs 8.80, or 1.06%, to Rs 837.30 per kg, with a business turnover of 1,439 lots.

Traders said rising demand in the spot market due to ongoing marriage season amid less arrivals from producing region mainly led to rise in cardamom prices at futures market.

http://business-standard.com/india/news/cardamom-remains-uprising-demand/158615/on

Cardamom remains firm on limited stocks

Press Trust of India / New Delhi Feb 02, 2012, 13:38 IST

Cardamom prices continued to rise by adding Rs 5.70 to Rs 673 per kg in futures trade today as speculators offloaded their positions on the back of limited stocks in the spot markets amid good domestic demand.

Shortage of quality produce from major producers increased demand from domestic and overseas buyers in the spot markets, encouraging speculators to enlarge their positions in futures trade, traders said.

At the Multi Commodity Exchange, cardamom for delivery in February rose by Rs 5.70, or 0.85%, to Rs 673 per kg, with a business volume of 486 lots.

The March contract rose by Rs 5.90, or 0.83%, to Rs 716.50 per kg, with a trading volume of 202 lots.

April cardamom gained Rs 5.50, or 0.73%, to Rs 756.50 per kg, with an open interest of 25 lots.

http://business-standard.com/india/news/cardamom-remains-firmlimited-stocks/156879/on

Cardamom futures rise as demand picks up

Press Trust of India / New Delhi Jan 25, 2012, 13:06 IST

Cardamom rose by Rs 1.20 to Rs 679.60 per kg in futures trade today as speculators enlarged their positions, supported by pick-up in spot market demand.

Tight stocks position in the physical market due to less arrivals from producing region further fuelled the uptrend.

At the Multi Commodity Exchange, cardamom for delivery in March added Rs 1.20, or 0.18%, to Rs 679.60 per kg, with a business turnover of 198 lots.

Similarly, the spice for delivery in February traded marginally higher by 80 paise, or 0.12%, to Rs 642.10 per kg, with an open interest of 463 lots.

Market analysts said increased buying by speculators on the back of pick-up in spot market demand against less arrivals from producing region mainly led to the rise in cardamom futures prices.

http://business-standard.com/india/news/cardamom-futures-rise-as-demand-picks-up/156215/&tp=on

Cardamom futures extend gains on rising demand

Press Trust of India / New Delhi Jan 19, 2012, 12:03 IST Cardamom extended gains for the third straight day today rising by Rs 3.10 to Rs 631.40 per kg in futures trade as speculators enlarged their positions supported by rising demand in the spot market. At the Multi Commodity Exchange, February cardamom gained Rs 3.10, or 0.49% to Rs 631.40 per kg in business turnover of 229 lots. The March delivery traded higher by Rs 2.50, or 0.38% to Rs 659.70 per kg in 32 lots. Traders said rising demand in the spot market due to marriage season, less arrivals from producing region mainly pushed up cardamom futures prices.

Cardamom futures up on higher demand

 Press Trust of India / New Delhi January 13, 2012, 12:27 IST

Cardamom futures prices today rose for the second straight day by adding Rs 3.50 to Rs 585 per kg, as speculators enlarged their positions, driven by pick-up in spot demand. Less arrivals from producing regions further fuelled the uptrend in cardamom futures prices.

At the Multi Commodity Exchange, cardamom for delivery in January added Rs 3.50, or 0.60%, to Rs 585 per kg in business turnover of 94 lots.

Likewise, the spice for delivery in February traded higher by 90 paise, or 0.15%, to Rs 615.70 per kg in 313 lots.

Market analysts said increased buying by speculators, following pick-up in demand in the spot market amid less arrivals from producing region mainly led to the rise in cardamom prices at futures trade.

http://business-standard.com/india/news/cardamom-futures-uphigher-demand/155187/on

Cardamom futures up on spot demand

Press Trust of India / New Delhi November 23, 2011, 12:08 IST Cardamom prices rose by Rs 2.60 to Rs 695.10 per kg today on the back of a firming trend in the spot market amid rising export enquiries. Reduced supply from southern growing belts also supported prices of the commodity. At the Multi Commodity Exchange, February cardamom rose by Rs 2.60, or 0.37%, to Rs 695.10 per kg, with a trading volume of 59 lots, while the spice for December contract delivery gained Rs 2.40, or 0.36%, to Rs 654.80 per kg in 415 lots. The January contract advanced by Rs 1.30, or 0.19%, to Rs 674.40 per kg, with an open interest for 96 lots. Traders said increased buying in the spot market, fuelled by marriage and export demand, led to the rise in cardamom futures prices. They said reduced supply from southern growing belts also supported the uptrend.

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