Cardamom On MCX Settled Down By -0.74% At 1128.3

                

Cardamom on MCX settled down by -0.74% at 1128.3 on profit booking after prices gained taking positive cues from spot market on rising domestic and exports demand. Besides, restricted supplies from producing regions also fuelled the uptrend. The considerable drop in rainfall during the month of August-September has negatively impacted the cardamom production. Total arrivals stood at 84.5 tonnes and almost the entire quantity was sold out. The dry spell, prevailing in the growing regions of Idukki district, where 75 per cent of the cardamom is grown, is signalling of a further drop in the crop. Decline in the north-east monsoon which is expected in the coming days would result in severe water shortage in the growing areas.

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