MCX CARDAMOM FUTURES MARKET UPDATES - 05 AUG 2015

Cardamom futures may trade on a negative note due to rise in arrivals in major spot markets. Total arrivals of cardamom for the auction on Tuesday were around 71 tonnes with the spot price on an average quoted as Rs.630per kg. The maximum price was Rs.908 per kg.As per market source, the supply of better quality cardamom might take few more weeks to arrive in the market. As per the latest report from Spices Board of India,the board will provide subsidies to small cardamom farmers to improve irrigation and soil quality, and for replanting.Small cardamom growers in Kerala and Tamil Nadu may receive up to Rs.70000 for replanting, while farmers in Karnataka will get up to Rs.50000. Small cardamom farmers in the southern states will get financial assistance of up to 25% of actual costs for acquiring irrigation pump sets, sprinkler sets, equipment for gravity-fed irrigation system, and up to 50% for water storage structure.They will also get funding of up to 25% for soil conservation.Under the Board's Farm Mechanization Programme, small cardamom grower sin these states will get 50% subsidy for purchasing weed-cutter/pit-maker,equipment for plant protection and for washing, grading and polishing cardamom,the release said. The board also provides assistance for post-harvest improvement process in Gujarat, Rajasthan,Madhya Pradesh, Andhra Pradesh, Telangana, Uttar Pradesh, Bihar, Himachal Pradesh, Maharashtra, Karnataka, Tamil Nadu, Kerala,West Bengal,and north-eastern states ..
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