Comments
Cardamom futures staged a strong rally last week on the MCX. A pick-up in the spot market and strong export demand, amid supply concerns, supported prices. Cardamom February futures contract made a high of ₹1,530 per kg before closing at ₹1,495 per kg, 6.2 per cent higher for the week.
At spot markets, prices traded higher in the range between ₹1,288 and ₹1,413 per kg, higher by ₹135-170 per kg while the maximum price that the superior quality cardamom fetched was ₹1,649 per kg, which was higher by ₹173 per kg, compared to the previous week’s maximum price.
For the week ahead, cardamom futures are expected to continue their bullish trend, tracking supply-side concerns. However, since the contract has gained over 8 per cent over the last couple of weeks, there is a possibility of seeing profit booking at higher levels.
On the other hand, in the spot market, buying is expected to slow down slightly and supplies to increase due to higher prices.
The writer is Head-Commodity Research, Karvy Comtrade
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.