On MCX Settled Up By 0.22% At 1140.1

On MCX settled up by 0.22% at 1140.1 on lower level buying despite of sufficient supplies amid higher physical arrivals from the major cardamom producing regions. However downside seen limited amid expectations of demand for the ensuing festive season amid tight stocks and restricted supplies. Almost dry conditions for a prolonged period (Dec to mid-May) not only hit the yield and output but also delayed the commencement of new crop supplies, which generally start in July. Cardamom output during the current year 2015-16 (Aug-July) is estimated over 30,000 tons as against earlier projection of 22,000 tons. At Kochi market total arrivals are at 72582 kgs, up by 45859 kgs as against previous day. 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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