Cardamom futures may show some short covering owing to interest being shown by investors to buy from lower levels.
Moreover, agitation over the Mullaperiyar dam dispute between both Kerala and Tamil Nadu affecting road traffic across the border has adversely affected the movement of Cardamom to the auction centres located at the border towns in both the states.
Chilli futures may trade sideways with a bearish bias owing to expectation of higher arrivals. In M.P., 5 lakh bags are arriving on monthly basis that arrival is same as comparison to last year, Red Chilli arrivals will continue till 2-3 months.
Pepper futures may trade sideways holding support above 34900 levels. MG1 variety of Pepper continued to remain competitive at present at the international market.
Jeera futures may rade sideways & gains may remain capped. There are huge chances of area increase in this region due to sufficient soil moisture amid favourable weather conditions.
Courtesy: SMC Global
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