Cardamom on MCX settled down -0.68% at 1303.8 following reports of increasing arrivals of the spices from Guatemala, though domestic supplies are weak. Despite estimates of lower output and tight stocks, cardamom prices are ruling easy due to higher imports from Guatemala. Prices remained under pressure due to cheaper imports, subdued exports demand and stock liquidation by stockists and planters. India exported 1,625 ton cardamom during Apr-Sept versus 2,026 ton a year ago. Harvesting is nearly complete and hence arrivals are unlikely to pick up. Exporters and north Indian dealers have slowed down because of the higher prices. Exports of small cardamom during April-September 2016 have dropped by 20 per cent in volume and 22 per cent in value realisation from that of the same period the last fiscal. Shipments during the first six months of the current financial year stood at 1,625 tonnes valued at Rs. 139.25 crore against 2,026 tonnes valued at Rs. 179.32 crore in the corresponding period in 2015-16, according to Spices Board sources. Total cardamom arrivals across Kerala in last week were around 410 MT against 333 MT arrived during last week, higher by 22.8%. Technically market is under fresh selling as market has witnessed gain in open interest by 0.59% to settled at 508 while prices down -8.9 rupees, now Cardamom is getting support at 1297.3 and below same could see a test of 1290.8 level, And resistance is now likely to be seen at 1313.1, a move above could see prices testing 1322.4.

Trading Ideas:

# Cardamom trading range for the day is 1290.8-1322.4.

# Cardamom prices dropped following reports of increasing arrivals of the spices from Guatemala, though domestic supplies are weak.

# Despite estimates of lower output and tight stocks, cardamom prices are ruling easy due to higher imports from Guatemala.

# Prices remained under pressure due to cheaper imports, subdued exports demand and stock liquidation by stockists and planters.

# Cardamom prices in spot market gained by 19.70 rupees and settled at 1421.70 rupees.