Rising supply drags down cardamom futures
28/04/2015 10:42
Cardamom prices continued to decline on Tuesday at the Multi Commodity Exchange (MCX) on heavy arrivals at last week’s auctions held in Kerala and Tamil Nadu. Commenting on this, PC Punnoose, General Manager, CPMC said, “Liquidation in good quantities by growers and dealers following intermittent rains in the growing regions and a consequent fear of a price fall has led to the surge in arrivals”. At MCX, Cardamom futures for May 2015 contract were trading at Rs. 835.50 per kg, down by 0.08 per cent, after opening at Rs. 828.80 against the previous closing price of Rs. 836.20. It touched the intra-day low of Rs. 828.80 till the trading. (At 10.37 AM today). Sentiment weakened further due to the adequate stocks availability in the physical market on account of higher supply from the producing belts. The important markets for cardamom in India are Vandanmendu, Bodinayakanur, Kumily, Thekkady, Kumbum and Pattiveeran Patti in Kerala.
28/04/2015 10:42
Cardamom prices continued to decline on Tuesday at the Multi Commodity Exchange (MCX) on heavy arrivals at last week’s auctions held in Kerala and Tamil Nadu. Commenting on this, PC Punnoose, General Manager, CPMC said, “Liquidation in good quantities by growers and dealers following intermittent rains in the growing regions and a consequent fear of a price fall has led to the surge in arrivals”. At MCX, Cardamom futures for May 2015 contract were trading at Rs. 835.50 per kg, down by 0.08 per cent, after opening at Rs. 828.80 against the previous closing price of Rs. 836.20. It touched the intra-day low of Rs. 828.80 till the trading. (At 10.37 AM today). Sentiment weakened further due to the adequate stocks availability in the physical market on account of higher supply from the producing belts. The important markets for cardamom in India are Vandanmendu, Bodinayakanur, Kumily, Thekkady, Kumbum and Pattiveeran Patti in Kerala.
