Cardamom on MCX settled up by 0.91% at 1569.4 due to tight stocks amid sustained demand from exporters. Cardamom prices looks to remain supported tracking expected fall in arrivals and concern over standing crop. Exporters continued to buy cardamom from the markets hoping to get fresh orders due to India's competitive prices in global markets amid lower supplies from Guatemala-the other producer. Supply scenario is expected to improve this week. But, the main problem persistently affecting the trade is that only a third of the participants is still active at the auctions and in the open market trading. Harvesting trend is any indication, the total output during the current season might come to around 40 per cent of the previous crop. Exporters continued to stay active. They have bought an estimated 40-50 tonnes of exportable variety capsules last week. Arrivals last week decreased to
286 tonnes from 447 tonnes the week before. The individual auction average moved up to above Rs. 1,200 last week and was vacillating between Rs. 1,153 and Rs. 1,243 a kg. Total arrivals during the season from August 1 up to December 31, were at 10,093 tonnes and sales were at 9,551 tonnes. The individual auction average for the season as on December 31 stood at Rs. 1,068.66 a kg. Technically market is under fresh buying as market has witnessed gain in open interest by 1.47% to settled at 831 while prices up 14.1 rupee, now Cardamom is getting support at 1553.6 and below same could see a test of 1537.8 level, And resistance is now likely to be seen at 1582.6, a move above could see prices testing 1595.8.

Trading Ideas:

Cardamom trading range for the day is 1537.8-1595.8.

Cardamom prices gained due to tight stocks amid sustained demand from exporters.

Cardamom prices looks to remain supported tracking expected fall in arrivals and concern over standing crop.

Exporters continued to buy cardamom from the markets hoping to get fresh orders due to India's competitive prices in global markets.

Cardamom prices in spot market gained by 36.70 rupees and settled at 1487.00 rupees.