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Cardamom prices may go up on festive buyings: Karvy

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Press Trust of India New Delhi

Cardamom prices in the domestic market may rise in the wake of increased demand from North India due to upcoming festive season, according to an analyst report. 

The average monthly prices of cardamom were Rs 1,101 a kg in the beginning of current fiscal. The prices of cardamom touched a high of Rs 1,513 a kg in June before falling to a low of Rs 1,081 a kg in September.

"Upcoming festive demand from North India may support the prices," brokerage firm Karvy said in its analyst report on Agri Commodities.

The report also projected that pepper prices are likely to go down due to low demand in the international market.

 

"Weak export demand might support the downside," Karvy said while adding that the strong rupee against dollar is the main factor keeping the Indian parity higher than other producing countries.

The report has also projected that prices of jeera may remain low during the upcoming festive seasons.

"Expectations of rise in acreage under jeera crop this season have limited the gains," Karvy said. The report, however, projected a volatility in prices of other spices such as chili and turmeric.

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First Published: Oct 04 2010 | 5:19 PM IST

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