Cardamom On MCX Settled Up By 0.95% At 1183.8

Cardamom on MCX settled up by 0.95% at 1183.8 amid reports of weak rains in the main producing centres of Kerala-the major producing state. Arrivals in auction centres have improved but still insufficient to meet the domestic and export demand. Rainfall in Kerala stood 28% below normal, 25% in Kerala and 14% in Tamil Nadu. Apart from domestic, export demand is also good as exporters have orders with them.

Stocks in Delhi market is estimated around 2,000 bags of 50 kilogram each. 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.

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