Cardamom On MCX Settled Up 1.73% At 930.5

Cardamom on MCX settled up 1.73% at 930.5 amid a pickup in physical demand in the domestic spot market. Further, cardamom arrivals have been slowing down because of non-availability of good quality grade capsules too fuelled the uptrend. 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. The extended dry spell with high temperatures that prevailed from December 2015 to the first fortnight of May 2016 affected the flower setting, thereby delaying the harvest.

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