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Cardamom extends gains, rises on pick up in demand

By Religare
|

Cardamom prices extended gains, rising by 2.02 per cent on Monday at the domestic markets at the domestic markets as traders increased their positions tracking a pick up in the demand for the commodity due to the upcoming festival and wedding season in the midst of low arrivals. At MCX, Cardamom futures for December 2012 contract were trading at Rs. 864.50 per kg, up by 2.02 per cent, after opening at Rs. 849.70 against the previous closing price of Rs. 847.40. It touched the intra-day high of Rs. 872.80 till the trading. (At 11.05 AM today).

 

Sentiment improved further on account of a firm demand in the market against restricted arrivals 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.

Story first published: Monday, November 19, 2012, 16:30 [IST]
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