Cardamom on MCX settled up 2.31% at 1036.4 tracking firmness in spot demand after prices dropped amid good arrivals in the auctions at Kerala and Tamil Nadu. The prolonged south-west monsoon has helped raise the cardamom output in the country causing prices to drop by 25 per cent much to the relief of exporters who are getting increased orders from the Gulf market. With prices declining this month, exporters are picking up more quantity for exports.
Trading Ideas:
* Cardamom trading range for the day is 992.9-1060.7.
* Cardamom prices gained tracking firmness in spot demand after prices dropped amid good arrivals in the auctions at Kerala and Tamil Nadu.
* Cardamom exports have been on the rise from the beginning of the year.
* The first quarter ended June 2017 saw shipments at 1,220 tonnes worth Rs 134.55 crore, up 10 per cent in volumes.
* Cardamom prices in spot market dropped by 2.60 rupees and settled at 1015.00 rupees.
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