Commodity Tips: Cardamom falls by 0.09% on waning demand

Commodity Tips: Cardamom prices fell by 0.09 per cent on Wednesday at the Multi Commodity Exchange (MCX) due to the adequate stocks visibility in the physical market on account of higher supply from the producing belts of Chandausi in Uttar Pradesh. At MCX, Cardamom futures for Nov 2015 agreement were trading at Rs. 746.30 per kg, down by 0.05 per cent, after opening at Rs. 744.10 against the previous closing price of Rs. 746.70. It touched the intra-day low of Rs. 742 till the trading. (4 Nov) Sentiment weakened further as the traders booked profits at the prevailing levels in the midst of a subdued demand for the commodity.

Karnataka (20 per cent),Kerala (70 per cent) and Tamil Nadu (10%) are the cardamom growing states in India while about 90% of the produce is used within the nation. The valuable markets for cardamom in India are Kumily, Bodinayakanur, Thekkady, Vandanmendu, Kumbum and Pattiveeran Patti in Kerala.

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