MCX Cardamom under fresh selling seen in, Commodity Online

cardamonCardamom on Multi Commodity Exchange (MCX) is on fresh selling, since market has witnessed gain in open interest by 0.84 percent to settle at 362. The price of cardamom on Multi Commodity Exchange was settled down by -0.1% at 1,054 amid good arrivals in the auctions at the Southern states. The delayed monsoon in south-west regions has helped lift up the cardamom output in the country causing prices to fall by 25% much to the relief of exporters who are getting increased orders from the Gulf market. 

In the midst of prices declining this month, exporters are picking up more quantity for exports. Arrivals are averaging 150 to 200 tonnes per day. Cardamom exports have been on the rise right from the beginning of the year. 

During April through June 2017-18, India has exported 1,220 ton cardamom, which is up from 1,108 ton an-year-ago period. Expectation of a good crop owing to favorable weather environment coupled with a possible decline in the prices has slowed buying.