Cardamom On MCX Settled Up By 0.1% At 891.6

Cardamom on MCX settled up by 0.1% at 891.6 on shortcovering after falling amid muted physical demand for Cardamom in the domestic spot market. Further, abundant supplies on higher physical arrivals from the major Cardamom producing belts limited the upside. Usually, harvesting i.e., first round of picking used to begin by this time of the season, but due to vagaries of the weather this year, first round of picking is expected to commence only by August-end or the first week of September. At the Cardamom Planters’ Association auction held today in Bodinayakannur the average price has, however, slipped to Rs. 734.92 from Rs. 746.84 a kg. The trade attributed the decline to inferior quality of the material. Today’s arrival was at 15.8 tonnes and of this 14.5 tonnes were sold

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