Cardamom Prices Rule Firm On Buying Support

Kochi: Cardamom prices continued to remain steady to firm at the auctions held during the week in Kerala and Tamil Nadu on good buying support.

North Indian buyers were actively covering to meet their requirement for the winter and the festival season. However, exporters were absent probably because of the high prices which are not competitive in the overseas markets.

Arrivals during the week continued to be less than that of the same week last year. The highest arrivals so far during the current season stood at 55 tonnes as against 65-80 tonnes in the corresponding period last year, trading sources said.

Picking is in its full swing and yet contrary to expectations, the arrivals have not picked up and remained far below last year’s levels, they said.

The erratic climate is responsible for the decline, they claimed.

Auction details

At the electronic auction conducted by STCL in Bodinayakannur on Thursday, total arrivals stood at 22 tonnes, of which 20 tonnes were sold. The average price here showed a decline of over Rs 20 a kg from that of the Wednesday’s auction held by Cardamom Processing and Marketing Company (CPMC) at Kumily. The arrivals at Kumily auction were at 55 tonnes and the entire quantity was sold out, P.C. Punnoose, General Manager, CPMC, told Business Line. Prices here witnessed an increase of Rs 5-10 a kg from that of Sunday’s auction. Maximum price was at Rs 579 a kg while the minimum Rs 271 a kg. Average price stood at Rs 425.50 a kg. 8mm bold was fetching Rs 525-550, while 7.5mm-8mm was being sold at Rs 475-500. 7mm was fetching Rs 425-450 a kg and current bulk Rs 450 a kg.

Total arrivals during the current season as on October 10 stood at 1,084 tonnes as against 1,751 tonnes in the same period last season. Sales were at 1,021 tonnes compared with 1,555 tonnes in the previous season. The weighted average price went up to Rs 409.30 a kg from Rs 343.90 a kg in the corresponding period last season.

Prices of graded varieties were AGEB Rs 495-505, AGB Rs 390-400, AGS Rs 370-380, AGS 1 Rs 355-365 a kg. Prices in the open market at Bodinayakannur were AGEB Rs 480-490, AGB Rs 370-380, AGS Rs 355-365 and AGS 1 Rs 340-350 a kg. Current bulk was fetching Rs 470-500 a kg.