Cardamom falls by 0.18% on profit booking

Posted By: Religare
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Cardamom prices fell by 0.18 per cent on Monday at the domestic markets at the Multi Commodity Exchange (MCX) as the traders booked profits at the prevailing levels in the midst of a subdued demand for the commodity. At MCX, Cardamom futures for October 2012 contract were trading at Rs. 997.70 per kg, down by 0.18 per cent, after opening at Rs. 991.80 against the previous closing price of Rs. 990.30. It touched the intra-day low of Rs. 986 till the trading. (At 11.08 AM today).

Sentiment weakened further due to the adequate stocks availability in the physical market due to higher 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.

Read more about: bse, nse
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