Cardamom On MCX Settled Up By 0.64% At 989.5

Cardamom on MCX settled up by 0.64% at 989.5 on short covering after prices dropped ahead of fresh harvesting of the new season crop. Buyers are anticipating arrival of the new crop by the middle of June following good rains in the cardamom growing tracts. Hence, they have slowed down, only those having immediate commitments were buying.

Quality of the cardamom arriving at present is inferior and that phenomenon is also aiding the price fall. At the CPA auction held in Bodinayakannur total 9.4 tonnes of cardamom arrived of this 6.9 tonnes were traded. Maximum price stood at Rs. 973 a kg. The auction average fell to Rs. 807.54 a kg from 877.95 a kg the previous Monday.

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