Cardamom futures decline on weak demand

Posted By: Religare
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Cardamom futures fell as a result of the sufficient stocks holdings in the physical market. Moreover, the traders offloaded their holdings on account of the slow demand at the prevailing increased levels which also influenced the prices of the spice. At the MCX, Cardamom future for January 2012 contract was trading at Rs. 587 per 1 kg, down by 0.68%, after opening at Rs. 591.40 against the previous closing price of Rs. 591. It touched the intra-day low of Rs. 587.10 till the trading. (At 10.26 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: commodity, futures, cardamom
Story first published: Thursday, December 22, 2011, 13:30 [IST]
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