Cardamom future prices may trade on positive note: Karvy

Karvy's report on agri commodities

Review

Cardamom MCX July contract witnessed positive trend during yesterday’s trading session with good gain of 2.74% from previous day and settled at Rs. 822.1/kg.

Active buying due to rise in demand pushes the price.

The spot market witnessed a hike in maximum price as well as the average price to Rs. 936 and Rs.661.75/Kg respectively due to slight improvement in demand and availability of premium Cardamom.

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The total arrivals at the spot market were 94453 Kgs.

Outlook

Cardamom futures are expected to trade on a positive note during today’s market, due to hope of improved export demand and limited supply in the spot. The arrivals are expected to be less in today’s spot auction as the planters are reluctant to sell the crops, in an assumption that the price may increase in the coming days. Considering all of the above factors, we recommend staying on the buying side during today’s trading session.

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