In commodity market terminology, Cardamom is a spice related to the ginger family native to the forests of south India. The plant is a perennial with capsules bearing small seeds that are used widely in Indian cooking for curries and cakes. The seeds are also used for teas and medicine.
Cardamom futures are traded on two exchanges in India: the Multi-Commodity Exchange (MCX), and the National Multi-Commodity Exchange (NMCEX). Prices are quoted in Indian Rupees and contracts are for a 5-month term. Delivery is in lots of 100 kilograms of the Aleppey Green Extra Bold (AGEB) grade with 90% of the commodity consumed domestically in India.