Cardamom prices up due to good demand

Posted By: Religare
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Cardamom futures rises at the domestic markets due to the reduced stock holdings in the physical market tracking the less supply from the growing belts. Moreover, fresh holdings were created by the traders tracking the good demand in the spot market which also supported the prices. At the MCX, Cardamom future for December 2011 contract was trading at Rs. 573.60 per 1 kg, up by 1.40%, after opening at Rs. 569.50 against the previous closing price of Rs. 565.70. It touched the intra-day high of Rs. 575 till the trading. (At 10.46 AM today).

Kerala (70%), Karnataka (20%) and Tamil Nadu (10%) are the cardamom growing states in India while about 90% of the produce is consumed within the nation.

Cardamom is sold at auction centres. Important markets for cardamom in the country are Vandanmendu, Bodinayakanur, Kumily, Thekkady, Kumbum and Pattiveeran Patti in Kerala.

Read more about: futures, mcx
Story first published: Monday, December 12, 2011, 13:30 [IST]
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