Cardamom Trading Range For The Day Is 1036.4-1082.2

On MCX settled up by 0.64% at 1057.6 on account of good buying support from both exporters and upcountry buyers. Heavy rain may affect production of cardamom crop, which is ready to harvest, in the second half of June. The crop is expected to be higher this season. Earlier in the year, cardamom growing tracts in Idukki district received good summer rain. Prices started to drop as favourable weather conditions increased the chances of a bumper cardamom crop for the 2017-18 season. 

Cardamom prices fell by about 20% in May alone as growers and traders were trying to liquidate stocks before the start of the next season which was expected to set in a month earlier in June because of good summer showers. Cardamom arrivals for auction increased by 26.7% on a month-on-month basis to 1836 tonnes in May. The Cardamom Growers Association estimates that there would be a minimum drop of 30% in annual production.

Trading Ideas:

* Cardamom trading range for the day is 1036.4-1082.2.

* Cardamom prices ended with gains on account of good buying support from both exporters and upcountry buyers.

* Heavy rain may affect production of cardamom crop, which is ready to harvest, in the second half of June.

* Prices started to drop as favourable weather conditions increased the chances of a bumper cardamom crop for the 2017-18 season.

* Cardamom prices in spot market dropped by 0.30 rupees and settled at 1160.80 rupees.

For Indian Stock Market Tips or Free Trial to click here>> https://www.justdial.com/Indore/Ripples-Advisory.

You May Also Like

0 comments

Note: only a member of this blog may post a comment.