Cardamom On MCX Settled Up 1.35% At 1051.1

Cardamom on MCX settled up 1.35% at 1051.1 tracking firmness in spot demand despite of reports of bumper output on the back of favourable weather amid poor stocks of quality goods. There has been raining in the producing centres of Kerala and present weather is conducive to the coming crop. Spice Board cut the number auctions due to falling arrivals at the auction centres. Producing centres of Kerala are getting good rains and monsoon is also expected to hit Kerala coast three days before schedule. India exported 4,180 ton cardamom valued at Rs 4.56 billion during April-December 2017, data from Spices Board showed.

Cardamom will be auctioned once every day at e-auction centres in Tamil Nadu's Bodinayakanur and Kerala's Puttady from Monday till Jun 30, the Spices Board India said. The board has reduced the auctions per week to six from 12 because growers' organizations complained that "Cardamom lots of small growers are pushed back, half day auctions are extending up to late evening and traders are not getting sufficient time to get their cardamom samples evaluated to fix the quality. The small cardamom prices showed an easier/ steady trend after remaining firmer last week.

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