Cardamom On MCX Settled Up 0.9% At 961.6

Cardamom on MCX settled up 0.9% at 961.6 amid a rise in physical demand for cardamom in the domestic spot market. Further, anticipation of decline in output following a delay in harvesting at the producing belts also added support to cardamom prices. This increase in prices is mainly attributed to the long dry spell in cardamom growing areas of South India, which is expected to impact cardamom production in the 2016-17 season. Export shipments in 2016-17 are expected to drop due to expectations of less availability on higher domestic consumption and higher prices.

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