Last Updated : February 03, 2012 15:50
MCX cardamom weighs down on poor physical demand
MUMBAI (Commodity Online):Cardamom futures gained Friday as traders offloaded their positions on the back of subdued demand in the physical markets.
In MCX
Cardamom February contract is trading at Rs.665.90 per Kg, lower by 0.86% on 15:45 IST against the previous close.
In the morning session the contract traded at a range of Rs.676.50-664 per Kg. Open interest of the contract is 4976 lots and volume traded is 3228 lots for the time being.
As per market source,
Cardamom production is expected to increase this year on higher acreage due to good price received last year. The daily arrivals is expected to decline in upcoming days as the harvest season is about to end by February-March.
Moreover, the growers are holding their stocks expecting higher return amid expected rise in export demand. The export demand for Indian variety is expected to rise due to its better quality compared to crop in other major producing countries.
MCX Silver 05 September 2012
contract was trading at
Rs 56922 . What's your view on it?
