Cardamom Sees Mixed Trend

Kochi: Cardamom prices saw a mixed trend at sales held in Kerala and Tamil Nadu during the week. New crop fetched higher prices while that for the capsules from the previous crop declined. At Aug 29, auction in Kumily by the Cardamom Processing and Marketing Company (CPMC), out of the 23.5 tonnes arrivals 60 per cent belonged to the fresh crop. Prices of it increased by Rs 25-30 a kg while the prices for the previous crop fell by Rs 15-20 a kg and 22.5 tonnes were old. Maximum price fetched was Rs 504 a kg while minimum Rs 198 a kg. Good colour 8mm capsule was sold at Rs 550-570 a kg; 7-8mm fetched Rs 450-475 a kg while current bulk was sold at Rs 375-390 a kg.

At the auction held by the Header Systems in Nedumkandam where much of the arrivals were from the carryover stock and, hence, the prices were weak. The Spices Board has, meanwhile, urged other auctioneers to explore the possibility of conducting e-auctions at Bodinayakanur soon or create the necessary infrastructure for holding e-auction at their respective centres as early as possible. On MCX, cardamom contracts during the week recorded a turnover of Rs 86.84 crore, open interest of 1,623 tonnes and volume of 388 tonnes. The August contract was down 1.73 per cent at Rs 512 per kg. The plantations are receiving now light showers with intermittent sun shine and that will help extend the current crop season.x