Latest news with #SangeethaViswanathan
Mint
29-07-2025
- Business
- Mint
MCX share price edges higher after launch of Cardamom futures
India's commodity exchange, the Multi Commodity Exchange (MCX), on Tuesday, 29 July 2025, launched new 'Cardamom Futures Contracts', effective from the same day, with the aim to help investors manage risk and strengthen the spice trade for small and medium-scale farmers of the nation. 'MCX announces the launch of Cardamom Futures Contracts effective 29 July 2025. This significant step is aimed at improving price discovery, ensuring better price risk management, and strengthening the spice trading ecosystem, especially for small and medium-scale farmers in South India and traders across India,' the commodity exchange informed the BSE through the filing. According to the official filing, each futures contract will comprise a training unit of 100 kilograms of cardamom. The futures contract will follow a Daily Price Limit (DPL) structure, with a 4% initial limit and a 2% price band after a 15-minute pause if the initial limit is breached. 'The contract will promote greater price transparency and prove to be an efficient risk management tool for the entire cardamom value chain,' said Adv. Sangeetha Viswanathan, Chairperson at the Spice Board of India under the Ministry of Commerce and Industries. As of 3:59 p.m. (IST), the Cardamom futures for the August 2025 contract were trading 0.31% lower at ₹ 2,864 per kilogram on the first day, compared to the closing of ₹ 2,873 per kilogram, according to MCX data. The commodity hit an intraday high of ₹ 2,935 per kilogram on Tuesday, 29 July 2025. Multi Commodity Exchange of India (MCX) shares closed 1.50% higher at ₹ 7,847 after Tuesday's stock market session, compared to ₹ 7730.80 at the previous market session. The company announced the launch of Cardamom Futures before the market opening bell on 29 July 2025. The shares of the commodity exchange have given stock market investors more than 364% returns on their investment in the last five years and over 86% returns in the last one-year period. On a year-to-date (YTD) basis, the stock has gained 24.70% in 2025 but has traded 3.69% lower in the last five stock market sessions. MCX shares hit their 52-week high level at ₹ 9,110 on 1 July 2025, while the 52-week low level was at ₹ 4,075.05 on 5 August 2024, according to the BSE data. The commodity exchange's market capitalisation (M-Cap) stands at ₹ 39,978.39 crore as of the stock market close on Tuesday, 29 July 2025. Read all stories by Anubhav Mukherjee Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
News18
29-07-2025
- Business
- News18
MCX announces launch of cardamom futures
Agency: PTI Last Updated: New Delhi, Jul 29 (PTI) Multi Commodity Exchange (MCX) on Tuesday announced the launch of cardamom futures, aimed at improving price discovery and ensuring better price risk management. The exchange will initially offer cardamom futures contracts with expiry in August, September, October, and November 2025, with trading beginning on July 29. It is a compulsory delivery futures contract that will represent 100 kg of cardamom and prices to be quoted based on ex-Vandanmedu (Idukki district, Kerala) rates, an official statement said. 'We…extend our product portfolio to serve the needs of spice growers and industry and support the government's vision of a digitally enabled, farmer-inclusive agri-economy," MCX Managing Director and CEO Praveena Rai said. Cardamom is a premium commodity with global demand, and this contract will offer growers, traders, and exporters a reliable platform for hedging price risk, enhancing income certainty, and driving transparent price discovery, he said. Spices Board Chairperson Sangeetha Viswanathan said, 'The contract will promote greater price transparency and prove to be an efficient risk management tool for the entire cardamom value chain." MCX offers futures contracts in both agricultural and non-agricultural commodities. PTI LUX LUX SHW Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
The Hindu
25-04-2025
- Business
- The Hindu
Spices Board to promote climate-resilient cardamom varieties in Idukki
The Spices Board will promote climate-resilient cardamom varieties in Idukki to mitigate the challenges posed by shifting climatic conditions. According to officials, last year's severe drought significantly impacted cardamom cultivation, underscoring the urgent need for adaptive measures to safeguard the vital agricultural sector. Sangeetha Viswanathan, chairperson of Spices Board, told The Hindu that the board would promote a new cardamom variety, ICRI-10, developed by the Indian Cardamom Research Institute (ICRI), Myladumpara, Idukki. 'From the coming crop year, the board will promote the new variety to overcome the climate-related issues in the sector. The variety was developed after 10 years of research,' said Ms. Viswanathan. 'We need climate-resilient varieties to successfully continue cardamom farming in the district. We hope the new variety is capable of facing the challenge,' said Ms. Viswanathan. Yield of 3,000 kg a hectare Spices Board Director A.B. Rema Shree said the ICRI-10 variant cardamom was climate-resilient and had overcome last year's drought in the area. 'The variety will yield 3,000 kg a hectare yearly. The board plans to distribute the limited number of seeds to the farmers in the next crop year,' said the official. Crop loss in 16,211 ha The cardamom-growing hub of Idukki faced severe drought in 2024 due to the absence of summer rain. The Agriculture department reported to the State government that the sector in the district experienced crop loss in across 16,211 hectares of plantations. Ms. Viswanathan said she would conduct a meeting of cardamom stakeholders in Idukki next week. 'I will interact with cardamom farmers, dealers, the planters' association, and auctioneers. I will ensure more transparency in cardamom auction. The farmers have raised complaints about the Spices Board's fund allocation for the cardamom sector,' she said. According to officials, the Spices Board chairperson will interact with stakeholders at Rajakad on Sunday (April 27); visit ICAR Myladumpara on Monday (April 28); and Puttady Spices Park on Tuesday (April 29). She will interact with cardamom stakeholders at SNDP Hall in Kattappana on Tuesday evening.
