Cardamom On MCX Settled Up By 3.99% At 1226.4

Cardamom on MCX settled up by 3.99% at 1226.4 due to better demand for the festival as well as for the coming marriage season. Prices also seen supported because of low inventory of the spice at exchange warehouses. Arrivals of cardamom have slowed down in new crop supplies. There is shortage of cardamom due to late commencement of new crop supplies and weak output due to lack of rains during Dec 2015-May 2016. This had hit the output badly. After over 18 ton of delivery in October contract, which expired Friday last, MCX accredited warehouses are left with a deliverable quantity of below 2 ton which is negligible considering the harvest is on.

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