Cardamom On MCX Settled Down By -2.09% At 973.7

Cardamom on MCX settled down by -2.09% at 973.7 on profit booking after prices gained following a decline in arrivals and a sluggish start to the monsoon in Idukki district of Kerala where the spice is grown the most. Harvest is expected to begin by this month-end and growers feel that if rains don’t intensify, production will be less than anticipated. Last year, cardamom output was down by 50 per cent at 15,000 tonnes.

Arrivals to the auctions declined by half to about 40 tonnes daily at the fag end of the season. The new harvest season will set in by this month-end. But if rains don’t intensify in Idukki in the coming days, the anticipated good crop will not happen. The small cardamom prices crossed Rs. 1,000 a kg at the auction at Puttady in Kerala's Idukki after dropping and vacillating between Rs. 820 and 900 for a month.

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