Cardamom On MCX Settled Down By -1.18% At 1042.6

Cardamom on MCX settled down by -1.18% at 1042.6 on profit booking after prices gained on hopes of fresh export deals amid shrinking inflow due to fag end of the season. Arrival have been dwindling auction centres in producing states. However, forecast of normal monsoon rains may cap the prices. IMD projected normal monsoon rains this year. However, in the spot markets prices fell further to Rs 900-925 from Rs 950-975 per kg on lack of local demand amid reports of heavy stocks in Delhi market. 

India exported 3,000 ton cardamom during Apr-Dec down from 3,825 ton a year ago, data from Spices Board showed. Exports of small cardamom during April-September 2016 have dropped by 20 per cent in volume and 22 per cent in value realisation from that of the same period the last fiscal. Shipments during the first six months of the current financial year stood at 1,625 tonnes valued at Rs. 139.25 crore against 2,026 tonnes valued at Rs. 179.32 crore in the corresponding period in 2015-16, according to Spices Board sources.

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