Cardamom On MCX Settled Up 3.87% At 1030.3

Cardamom on MCX settled up 3.87% at 1030.3 tracking good buying activities in the market. Further, monsoon so far is good; however is lower than the normal rainfall in cardamom growing regions. New crop arrivals are expected to be delayed as against earlier expectations early arrival to the market if monsoon does not perform as forecasted before. Monsoon during second week in Idukki district where 70% of country’s cardamom is grown was at 86.3 mm, lower by 39% from normal rainfall of 142.1 mm in the corresponding period.

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. At the auction conducted by South Indian Green Cardamom Company Ltd, Kochi a total of 35.8 tonnes arrived and the entire quantity traded.

The maximum price stood at Rs. 1,247 and the auction average was at Rs. 1,012.88. 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.

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