Cardamom On MCX Settled Up By 0.65% At 1484.9

Cardamom on MCX settled up by 0.65% at 1484.9 on bulk festival purchases amid a squeeze in supply at auctions held in Kerala and Tamil Nadu. As nearly 90 per cent of the harvesting is said to be over, the arrivals were showing a shrinkage. Looking at the upsurge in prices, those who are holding the material may release it this week. Exporters have slowed down following the sharp rise in the prices which remained above Rs. 1,300 a kg last week. They have bought somewhere between 40 and 50 tonnes of capsules last week. the main trading hub for the commodity in the country, the prices have shot up following bulk purchases by the Tamil Nadu government for distribution during Pongal.

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