Tuesday, 3 September 2013

MCX Cardamom reverses previous day’s losses; gains as demand picks up

Cardamom prices reversed its previous day’s losses, rising by 0.50 per cent on Today at the Multi Commodity Exchange (MCX) on account of good buying support from both exporters and upcountry buyers and also on hopes of improved export demand. At MCX, Cardamom futures for September 2013 contract were trading at Rs. 710.10 per kg, up by 0.50 per cent, after opening at Rs. 704.20 against the previous closing price of Rs. 706.60. It touched the intra-day high of Rs. 715.Prices also rose as a result of firm demand in the market against restricted arrivals from producing belts of  Kerala (70 per cent), Karnataka (20 per cent) and Tamil Nadu (10 per cent) are the cardamom growing states in India while about 90 per cent of the produce is consumed within the nation. 

The important markets for cardamom in India are Vandanmendu, Bodinayakanur, Kumily, Thekkady, Kumbum and Pattiveeran Patti in Kerala.

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