Cardamom On MCX Settled Up By 0.84% At 899.4

Cardamom on MCX settled up by 0.84% at 899.4 on expectation of substantial loss of production due to lower rainfall and high temperature that affected the crop this season. Spices Board apprehended a fall 25-30 in cardamom output during 2016-17 season beginning August due to long dry spell between Dec 2015 and May 2016. Output is set to fall in the coming year because of prolonged dry spell and irregular rains now. There is shortage of quality stocks and new crops supplies would be late. Late rains would also hit the commencement of new crop supplies which generally start pouring in the markets by first week of July, though crop runs between Aug-July.

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