Commodity Trends: No ban on cardamom futures
July 17th, 2010 admin
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With open interest in cardamom futures surging rumors of a ban on the contract also started circulating until Forward Markets Commission clarified that there would be no ban on cardamom futures. The excessive heating in the cardamom counter is borne by the rise in open interest outstanding buy sell positions from May 7 despite a 15% margin being imposed on the buy side.
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The lower supplies of cardamom from Guatemala and the stable UAE market has ensured a bullish market for the third most expensive spice in the world. Unless India’s production gains momentum in the coming years the country may not be able to capitalise on higher global demand.
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