Increased supplies, limited demand weighs on cardamom future
05/12/2014 14:59
Cardamom prices fell by 1.17 per cent on Friday at the Multi Commodity Exchange (MCX) on account of good selling activity from traders and speculators. At MCX, Cardamom futures for December 2014 contract were trading at Rs 777.50 per kg, up by 1.17 per cent, after opening at Rs. 790 against the previous closing price of Rs. 786.70. It touched the intra-day low of Rs. 773.60 till the trading. (At 03.10 PM today). Sentiment declined further as a result of declining demand in the market against over supply from producing belts of Chandausi in Uttar Pradesh.
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.
05/12/2014 14:59
Cardamom prices fell by 1.17 per cent on Friday at the Multi Commodity Exchange (MCX) on account of good selling activity from traders and speculators. At MCX, Cardamom futures for December 2014 contract were trading at Rs 777.50 per kg, up by 1.17 per cent, after opening at Rs. 790 against the previous closing price of Rs. 786.70. It touched the intra-day low of Rs. 773.60 till the trading. (At 03.10 PM today). Sentiment declined further as a result of declining demand in the market against over supply from producing belts of Chandausi in Uttar Pradesh.
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.
