Cardamom On MCX Settled Down By -4% At 1027.6

Cardamom on MCX settled down by -4% at 1027.6 amid favorable weather conditions and hopes of early commencement of new crop supplies from Kerala. Though export demand is over, local buying is there as stocks in consuming markets have exhausted. Harvesting is expected to begin from June end or early July and production might stay higher than last year due to good rainfall. In the spot market, price of Robin variety fell by Rs 30 to Rs 840-850 per kg on lack of local demand and fresh supplies. India exported 3,850 ton cardamom during 2016-17 down 30% on year due to high prices.

India exported 5,550 ton cardamom a year ago. A delay in the arrival of new crop arrivals, contrary to expectations, has triggered a bullish sentiment in the small cardamom markets, aiding a price rise, albeit marginal. Arrivals stood at 281 tonnes last week, against 295 tonnes the previous week. The weekly auction average moved up to 972.30 a kg from รข‚¹962.73 a kg the previous week.

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