Kochi: Cardamom prices, at the auctions held in Kerala and Tamil Nadu last week, improved on thin arrivals and good buying support.
After the March 16 crash, in which the average price fell to Rs 430 a kg, prices increased by around Rs 80 a kg as on Sunday last. The average price at the individual auctions during the week slowly moved up to Rs 512 a kg on Sunday from Rs 480 last Monday.
The arrivals had narrowed down to such a level that auctions were to be cancelled on Friday at Vandanmettu in Kerala and Bodinayakannur in Tamil Nadu on Monday.
The total arrivals at the KCPMC (Kumily) auction on Sunday stood at 24 tonnes, of which 23 tonnes were sold. Maximum price was Rs 633.50 a kg and minimum Rs 330.50 a kg. 8mm bold was sold at Rs 580 – Rs 600 a kg while 7 mm at Rs 525 – Rs 550 a kg. Current bulk with good colour was fetching over Rs 510 a kg, P.C. Punnoose, General Manager, KCPMC, told Business Line.
Market sources attributed the thin arrivals to the poor crop and holding back by major growers. As the arrivals narrowed down, the market sentiment changed and the buyers started buying and that in turn pushed up the prices, they said.
Total arrivals during the current season up to March 30 stood at 4,239 tonnes as against 6,857 tonnes on the same day last year, while sales were at 3,948 tonnes compared to 6,310 tonnes as on March 30, 2007.
The weighted average price during the current season as on March 30 stood at Rs 488.62 a kg as against Rs 304.53 a kg on the same date last season.
Prices of the graded varieties as on March 29 were AGEB Rs 580- Rs 590; AGB Rs 510 – Rs 520; AGS Rs 485 – Rs 495; and AGS1 Rs 465 – Rs 475 a kg. Prices in the local market at Bodinayakannur were AGEB Rs 565 – Rs 580; AGB Rs 485 – Rs 500; AGS Rs 475 – Rs 480; and AGS 1 Rs 460 – Rs 475 a kg.
After the March 16 crash, in which the average price fell to Rs 430 a kg, prices increased by around Rs 80 a kg as on Sunday last. The average price at the individual auctions during the week slowly moved up to Rs 512 a kg on Sunday from Rs 480 last Monday.
The arrivals had narrowed down to such a level that auctions were to be cancelled on Friday at Vandanmettu in Kerala and Bodinayakannur in Tamil Nadu on Monday.
The total arrivals at the KCPMC (Kumily) auction on Sunday stood at 24 tonnes, of which 23 tonnes were sold. Maximum price was Rs 633.50 a kg and minimum Rs 330.50 a kg. 8mm bold was sold at Rs 580 – Rs 600 a kg while 7 mm at Rs 525 – Rs 550 a kg. Current bulk with good colour was fetching over Rs 510 a kg, P.C. Punnoose, General Manager, KCPMC, told Business Line.
Market sources attributed the thin arrivals to the poor crop and holding back by major growers. As the arrivals narrowed down, the market sentiment changed and the buyers started buying and that in turn pushed up the prices, they said.
Total arrivals during the current season up to March 30 stood at 4,239 tonnes as against 6,857 tonnes on the same day last year, while sales were at 3,948 tonnes compared to 6,310 tonnes as on March 30, 2007.
The weighted average price during the current season as on March 30 stood at Rs 488.62 a kg as against Rs 304.53 a kg on the same date last season.
Prices of the graded varieties as on March 29 were AGEB Rs 580- Rs 590; AGB Rs 510 – Rs 520; AGS Rs 485 – Rs 495; and AGS1 Rs 465 – Rs 475 a kg. Prices in the local market at Bodinayakannur were AGEB Rs 565 – Rs 580; AGB Rs 485 – Rs 500; AGS Rs 475 – Rs 480; and AGS 1 Rs 460 – Rs 475 a kg.
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