Cardamom On MCX Settled Up 0.86% At 958.3



Cardamom on MCX settled up 0.86% at 958.3 on account of good buying support from both exporters and upcountry buyers. 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 Rs. 962.73 a kg the previous week.

Total arrivals during the current season up to June 24 were at 19,035 tonnes and sales were at 18,102 tonnes. Arrivals will gather pace by July-end, when daily supply will reach around 100 tn. The arriving new crop has 8% moisture content as it is from the first picking. The second round of picking is likely to start by mid-August, followed by third and fourth rounds, which will continue until February

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