Cardamom on MCX settled up by 1.85% at 1263.2 on short covering tracking firmness in spot demand after prices dropped amid reports of higher supplies of imported variety. However prices were further unlikely to improve in the coming week due to accumulation of imported stocks. Arrivals at the auction centres continued to shrink as the season has come to an end and number auctions have been cut in the absence of sufficient quantity. 

India exported 3,000 ton cardamom during Apr-Dec down from 3,825 on a year ago, data from Spices Board showed. Individual auction average slipped and it was vacillating between Rs. 1,047 and Rs. 1,193 a Kg. Total arrivals during the season from August 01 up to April 8, 2017 were at 15,247 tonnes and sales stood at 14,466 tonnes.

Trading Ideas:

*Cardamom trading range for the day is 1199.1-1305.1.

*Cardamom prices gained on short covering tracking firmness in spot demand after prices dropped amid reports of higher supplies of imported variety.

*However prices were further unlikely to improve in the coming week due to accumulation of imported stocks.

*India exported 3,000 ton cardamom during Apr-Dec down from 3,825 on a year ago, data from Spices Board showed.

*Cardamom prices in spot market dropped by 5.80 rupees and settled at 1380.10 rupees.

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