Cardamom On MCX Settled Up 1.86% At 943.5

Cardamom on MCX settled up 1.86% at 943.5 as restricted arrivals from producing belts supported the uptrend. Prices are in up trend since last 15-20 days after the update that this season a delayed harvest is likely to help the cardamom prices to stay firm and support will be conitinious to be seen as good export demand is expected this year. Now arrivals are likely to peak only after July as against the normal period of June, due to drought-like conditions in the first quarter of 2016. This year harvesting has been delayed due to the weather factor. 

The damage due to intense drought is limited, as plants have not been damaged much, but the yield is likely to go down substantially. Cardamom plants are very sensitive to rains with productivity directly related to the volume of rains and number of raining days. overall outlook will be supportive this year as imports from Guatemala will be low because of lower production. Higher domestic prices always leads to higher imports from Guatemala, as the global prices constantly stay at a discount when compared with Indian prices

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