Cardamom On MCX Settled Up By 2.72% At 1042.1

Cardamom on MCX settled up by 2.72% at 1042.1 on squeezed supply amid good buying interest at the auctions held in Kerala and Tamil Nadu. Self-imposed market intervention exercise by the sellers has squeezed the supply last week to 389 tonnes from 491 tonnes the previous week. Demand continued to remain stable with both upcountry dealers and exporters covering albeit not aggressively.Individual auction average has improved and vacillated between Rs. 904-1,070 a kg (Rs. 88-980a Kg). Total arrivals during the season from August 01 up to April 29, 2017 were at 16,300 tonnes and sales stood at 15,477 tonnes. 

The individual auction average for the season as on April 29, 2017 was at Rs. 1,138.72 a kg. The production and export of cardamom, has been increasing over the past three years. Despite competition from Guatemala, the largest producer of cardamom, there are good days for cardamom sector in the country. India grew just over 20,000 tonnes of cardamom and exported around 4,700 tonnes in 2013-14.

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