Cardamon Prices Fall in MCX as Speculators Booked Profits

Cardamom prices fell by 0.87 per cent on Tuesday at the Multi Commodity Exchange (MCX) as the speculators booked profits at the prevailing levels in the midst of a subdued demand for the commodity. At MCX, Cardamom futures for July 2012 contract were trading at Rs. 1,324.70 per kg, down by 0.87 per cent, after opening at Rs. 1,329 against the previous closing price of Rs. 1,336.30. It touched the intra-day low of Rs. 1,323 till the trading. (At 11.14 AM today). Moreover, the adequate stocks availability in the physical market due to higher supply from producing belts of Chandausi in Uttar Pradesh also put pressure on the cardamom prices.

Important markets for cardamom in India are Vandanmendu, Bodinayakanur, Kumily, Thekkady, Kumbum and Pattiveeran Patti in Kerala. 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.