MTECHTIPS

MTECHTIPS:-India Cardamom prices bullish in spot, bearish in futures

India cardamom prices appeared to be bullish in spot markets and bearish in futures on Tuesday.Spot cardamom at Idukki's Nedungandom witnessed sales at the rate of 800/kg for high quality variety and Rs.750/Kg for average quality variety.The overall trend appears to be bullish with no rains in the growing area. While there has been no news on export demand, festive season sales—Deepavali demand-- has picked up.“Of particular mention should be the enquiry from Kolkata.” said a trader.On Monday, Nedungandam witnessed cardamom sales at the rate of Rs.800/Kg in local open markets. Overall trend appeared to be bullish.MCX Cardamom November contract opened at Rs.935, touched a high of Rs.960 and closed at Rs.925.90 before succumbing to a low of Rs.920.