Cardamom On MCX Settled Down By -1.01% At 1095.4

Cardamom on MCX settled down by -1.01% at 1095.4 on profit booking after prices gained amid lower than expected output due to weak rains in major producing areas of Kerala and Tamil Nadu. Rainfall in Kerala stood 32% below normal and in Karnataka 26% below normal, IMD data showed. September contract may go up to Rs 1,200 per kg because of apprehensions of weak output put due to lack of sufficient rains.

Arrivals are below expectation and whatever quantity is coming to market is absorbed. Apart from domestic, export demand is also good as exporters have good orders with them. Second round of picking activities has commenced but supplies are lower. Carryover stocks from last season are reported to be very low at the production centers amid good domestic and export demand. Stocks in Delhi market is estimated around 1,800 bags of 50 kg each.

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