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MUMBAI (Commoditiescontrol) - As per the detailed analysis of auction trade, during the week, the maximum number of trade happened between INR 1350-1400 per kg levels (29% of the total trade), followed by INR 1450-1500 per kg levels (23% of the total).
Export is at very minimal phase at present due to pesticide residue issues from major destinations. Also, due to very limited availability of new crop, 45% of the trade depends on re-sale process which is stabilizing the prices at current levels.
Rainfall during April and May will be a crucial factor, where the change in price can be witnessed. For next week, the market is expected to remain same at the current levels given prevailing off-season.
MCX Cardamom-April-2019
Since Feb-25th cardamom April contract was confined in the range of INR 1450 and 1500 per kg. Last week closed a tad above INR 1500, if it sustains above INR 1500 for two consecutive days on closing basis then expect further upwards bias towards INR 1550-1580-1600 levels once again.
Any correction around INR 1475-1480-1485 should be considered as good levels to accumulate.
(By Commoditiescontrol Bureau)
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