Cardamom on MCX settled down by -2.89% at 1240.2 due to lack adequate support from stockists amid reports of higher supplies of imported variety. Prices are 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. 

Supply continued to show a shrinkage following the continued dry spell. Harvesting is nearly complete and hence arrivals are unlikely to pick up. Exporters and north Indian dealers have slowed down because of the higher prices.

Trading Ideas:

Cardamom trading range for the day is 1217.1-1276.5. 

Cardamom dropped due to lack adequate support from stockists amid reports of higher supplies of imported variety.

Prices are unlikely to improve in the coming week due to accumulation of imported stocks.

Arrivals at the auction centers continued to shrink as the season has come to an end.

Cardamom prices in spot market dropped by 0.60 rupees and settled at 1385.90 rupees.

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