Cardamom On MCX Settled Down By -0.72% At 1494.4

Cardamom on MCX settled down by -0.72% at 1494.4 on profit booking after prices were supported recently due to a squeeze in supplies. Arrivals continued to show a declining trend as the harvesting season was almost over and this phenomenon could be attributed to the current rise in prices. The protracted dry spell with high temperatures at this time of the season in Kerala’s Idukki district, the main cardamom growing region in the country, is responsible for the fall in supply and the consequent upward trend in the prices. Water resources for irrigating the plants have almost dried up. In several estates, where irrigation facilities do not exist, the plants have started to wither. Exporters were covering and bought an estimated 50 tonnes of exportable variety last week.

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