Cardamom Steady On Buying Support

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

North Indian buyers were actively buying to meet their Diwali requirements. The capsules were fresh and of good quality and hence everybody, except exporters, were buying. But, since the prices were ruling high the upcountry dealers were said to be not buying to create any inventory. On the other hand, the arrivals continued to remain 30 to 35 per cent less than during the same period last year, though picking has reached its full swing. Exporters were absent as there were no orders at the current prices, trading sources told Business Line.

However, at the e-auction held at Bodinayakannur on Thursday the prices witnessed a decline. Out of the total arrivals of 30 tonnes, 27 tonnes were sold. Maximum price was Rs 480 a kg and the minimum Rs 154.50 a kg. Individual average stood at Rs 394.57. At the Kumily auction on Wednesday, conducted by the Cardamom Processing and Marketing Company (CPMC), arrivals stood at 56 tonnes and the entire quantity was sold out, P.C. Punnoose, General Manager, CPMC, said. He said that the maximum price fetched was Rs 552 a kg and the minimum Rs 280 a kg.

The individual average price was Rs 420.90.

Good colour green 8 mm capsules were fetching Rs 490 - Rs 525 a kg, while 7 mm - 8 mm Rs 450 - Rs 475 a kg. Currently bulk was being sold at Rs 425 - Rs 450 a kg.

Significantly, even the rejection variety which was being sold at Rs 130 - Rs 150 a kg was fetching Rs 350 - Rs 370 a kg.

Prices of graded varieties as on October 17, were AGEB Rs 505 - Rs 510, AGB Rs 400 - Rs 405, AGS Rs 380 - Rs 385 and AGS 1 Rs 360 - Rs 370 a kg.