Cardamom futures extended its weak trend due to lack of cues from the spot markets. The activities in the spot markets were limited on lower supplies.
Supply of Cardamom got disrupted between Kerala and Tamil Nadu due to ongoing agitation on Mullaperiyar dam.
Cardamom auction in Kerala got stopped as the movement of cardamom got affected. The harvesting activities were also affected due to unavailability of workers.
As per market source, cardamom prices are trading at a higher rate at Bodinayakanur market near Rs.580 per kg, while the prices in Kerala continued to remain choppy.
The overall outlook is, however, bearish due to high output estimates for 2011-12. According to trade sources, Cardamom production in India is estimated to be 15000 tonnes and Guatemala productions are expected to be near 25000 tonnes.
Courtesy: Geojit Comtrade Limited
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