1. HARISH.G KARVY COMTRADE LTD

2.  INTRODUCTION  AGRONOMICAL FEATURES  SEASONALITY  DEMAND AND SUPPLY ANALYSIS  PRICE ANALYSIS  ARRIVAL PATTERN  FACTORS TO WATCH OUT  PRICE TARGET AGENDA

3.  “Queen of Spices” - Ginger family Zingiberaceae  Expensive spice after Vanilla and Saffron  Three typical kinds - Malabar, Mysore and Ceylon  Native of India, Sri Lanka and parts of Southeast Asia  Called as a Versatile Spice - Usage in both sweet and salty foods  Auyervedic medicine preparations INTRODUCTION

4.  Conditions of the evergreen forests in the Western Ghats.  Canopy of lofty, evergreen forest trees  Highly sensitive to wind and drought Seasonality Crop – Perennial Yield – Starts from second year of planting Harvesting - August to January AGRONOMICAL FEATURES AND SEASONALITY

5. WORLD SCENARIO  World production of cardamom is estimated at 30000 MT  Major producer is Guatemala - An average annual production of 18000 to 20000 MT  India - second largest producer - An average production of 11000 to 12000 MT  Indian cardamom - Superior quality  About 60% of the world production is exported to Arab (South West Asia, North Africa) countries

6. DEMAND AND SUPPLY ANALYSIS Stagnant production

7. DEMAND AND SUPPLY ANALYSIS

8. Production follows 6-7 year cyclical pattern

9. DEMAND AND SUPPLY ANALYSIS

14. PRICE ANALYSIS

17. ARRIVAL PATTERN Harvesting (Picking) pattern in cardamom Arrivals mainly depends on percentage of picking in the growing regions August to September – 25% to 30% September to October – 30% to 35% October to November – 20% to 25% December to January – 10%

18. WORD OF MOUTH Factors supporting the price rally  This year there is a gap of around 40 to 45 days in harvesting due to dropping (because of rain and wind)  Production is estimated to be lower by 17% this season  Increasing export orders from West Asia  Spurt in domestic demand due to upcoming festivals  Poor quality crop in Guatemala which is the major competitor for Indian cardamom in overseas market.

19. TECHNICAL OUTLOOK

20. Short term The bearish trend would continue in the short term as it has broken the 50% retracement (support) of 260-667 move. The next support is seen around 400-420 levels. Medium term Prices are expected to take support around 400 levels and fresh buying can be seen which may push the prices towards t 520- 550 then 650 levels. PRICE TARGET

21. FACTORS TO BE TAKEN CARE OF… If rain occurs during October and November in KERALA we can see fall in the prices as rain will boost the production of cardamom.

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