Kochi: The cardamom prices have saw a falling trend last week at auctions held in Kerala and Tamil Nadu on increased arrivals. The average price fell to Rs 580 a kg last week from Rs 600 in the previous week. The average price on Aug 11, the first day of the current week, at the Cardamom Planters' Association (CPA) auction held in Bodinayakkanur, also fell to Rs 561 a kg from the Aug 10 average of Rs 580. The total arrivals here stood at nine tonnes and the entire quantity was sold. The market has shown a falling trend. The purchasers now anticipate the crop to be better in the coming days as the growing areas have started receiving good rains.
Showing posts with label Cardamom. Show all posts
Showing posts with label Cardamom. Show all posts
Thursday, August 14, 2008
Tuesday, April 1, 2008
Cardamom Up On Buying Support
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.
Tuesday, March 18, 2008
Cardamom Prices Crasha
Kochi: The cardamom market crashed on selling pressure and weak demand and as a result the average price has declined by over Rs 250 a kg during the past one month at auctions held in Kerala and Tamil Nadu. The decline in the average price during the last week was around Rs 150 a kg.
The individual average price on Monday at the CPA auction in Bodinayakannur dropped to Rs 378.08 a kg. Total arrival stood at 7.1 tonnes and of which 5.2 tonnes was sold. The maximum price was Rs 530 a kg, while the minimum Rs 275.50.
Arrivals rise
The arrivals during last week showed an upward trend. At the auction on Sunday by the KCPMC, it stood at 33.7 tonnes. The growers and traders, who were holding stock, were slowly dumping it in the market and at the same time there were no corresponding increase in demand, P.C. Punnoose, General Manager, KCPMC, told Business Line.
He said the maximum price on Sunday was Rs 585 a kg, while the minimum Rs 150. Bulk was being sold at Rs 420–425. The individual average price was Rs 433 a kg.
The continuous rainfall during the past few days has created a sentiment in the market that it would pave the way for an early crop next season and in that case those who are holding the produce may not be able to sell the old stock. This phenomenon has forced many to go on a selling spree and that in turn pushed the prices down.
Upcountry dealers, who are holding stocks, started liquidating as the prices continued its sharp decline. Major buyers have withdrawn from the market. Only some are buying to meet their immediate requirements. Besides, the liquidity crunch in the market following the crash in the stock market also negatively affected the commodity market. All these factors have given rise to a squeeze in demand.
At present, dealers in the country are holding an estimated 1,000 tonnes, while an equal quantity is with the growers. Direct sales during the current season are estimated at Rs 1,600 tonnes.
Total arrivals at the auctions as on March 16 stood at 4,116 tonnes against 6,586 tonnes in the corresponding date last year. Similarly, sales were at 3,830 tonnes against 6,057 tonnes in the same period of the previous season. Weighted average price stood at Rs 488.80 a kg against Rs 303.53.
The prices of graded varieties as on March 15 were AGEB Rs 555–565, AGB Rs 485–495, AGS Rs 460–470 and AGS1 Rs 440-450. The prices at the local market in Bodinayakannur were AGEB Rs 535–555, AGB Rs 470–480, AGS Rs 440–450 and AGS1 Rs 420–430. Bulk was being sold at Rs 500–550 a kg.
The individual average price on Monday at the CPA auction in Bodinayakannur dropped to Rs 378.08 a kg. Total arrival stood at 7.1 tonnes and of which 5.2 tonnes was sold. The maximum price was Rs 530 a kg, while the minimum Rs 275.50.
Arrivals rise
The arrivals during last week showed an upward trend. At the auction on Sunday by the KCPMC, it stood at 33.7 tonnes. The growers and traders, who were holding stock, were slowly dumping it in the market and at the same time there were no corresponding increase in demand, P.C. Punnoose, General Manager, KCPMC, told Business Line.
He said the maximum price on Sunday was Rs 585 a kg, while the minimum Rs 150. Bulk was being sold at Rs 420–425. The individual average price was Rs 433 a kg.
The continuous rainfall during the past few days has created a sentiment in the market that it would pave the way for an early crop next season and in that case those who are holding the produce may not be able to sell the old stock. This phenomenon has forced many to go on a selling spree and that in turn pushed the prices down.
Upcountry dealers, who are holding stocks, started liquidating as the prices continued its sharp decline. Major buyers have withdrawn from the market. Only some are buying to meet their immediate requirements. Besides, the liquidity crunch in the market following the crash in the stock market also negatively affected the commodity market. All these factors have given rise to a squeeze in demand.
At present, dealers in the country are holding an estimated 1,000 tonnes, while an equal quantity is with the growers. Direct sales during the current season are estimated at Rs 1,600 tonnes.
Total arrivals at the auctions as on March 16 stood at 4,116 tonnes against 6,586 tonnes in the corresponding date last year. Similarly, sales were at 3,830 tonnes against 6,057 tonnes in the same period of the previous season. Weighted average price stood at Rs 488.80 a kg against Rs 303.53.
The prices of graded varieties as on March 15 were AGEB Rs 555–565, AGB Rs 485–495, AGS Rs 460–470 and AGS1 Rs 440-450. The prices at the local market in Bodinayakannur were AGEB Rs 535–555, AGB Rs 470–480, AGS Rs 440–450 and AGS1 Rs 420–430. Bulk was being sold at Rs 500–550 a kg.
Tuesday, March 4, 2008
Cardamom Prices Drop
Kochi: Cardamom prices showed a declining trend last week on lack of buying support at auctions held in Kerala and Tamil Nadu. Budget 2008-09
The average price was Rs 595 a kg at last Wednesday’s auction conducted by the CPMC, Kumily and the total decline was to the tune of Rs 60 a kg during the week till Saturday. However, on Sunday, it moved up by Rs 30 a kg in the auction held by the KCPMC, according to P.C. Punnoose, General Manager, CPMC. In fact, after Diwali the average price has been ruling above Rs 500 a kg.
Thin arrivals
There appears to be a slowdown in retail sales in the upcountry markets. Besides, purchases for Holi have not yet started giving the impression that the dealers are having some stocks in their inventory, he said. On other hand, arrivals at the auctions were very thin at single-digit figures and that in turn might be dissuading most of the traders from attending the auctions, he said.
Arrivals on Friday and Saturday were nine tonnes and six tonnes respectively. Out of nine tonnes, eight tonnes were sold, while of the six tonnes, three tonnes were withdrawn.
However, at the Sunday auction the arrivals stood at 23.5 tonnes and almost the entire quantity was sold out. The maximum price was Rs 649.50 and the minimum Rs 444 a kg. The average price moved up to Rs 656 a kg from Rs 535 on last Saturday, he said.
Picking has almost come to an end and what ever quantity arrives at the auctions, at present, is that released by the growers who are holding stocks.
Total arrivals during the current season up to February 28 stood at 3,866 tonnes compared to 6,126 tonnes in the same period last year. Similarly, sales have also dropped to 3,600 tonnes (5,631 tonnes). Weighted average price was at Rs 302.14 (Rs 487.15 a kg).
Prices of the graded varieties as on March 1 were AGEB Rs 675 - Rs 685, AGB Rs 600 - Rs 610, AGS Rs 575 - Rs 585 and AGS 1 Rs 555 - Rs 565 a kg.
The weather conditions so far during the current season were favourable and indications are that the growing area might get some summer showers in the coming days, trading sources said.
The average price was Rs 595 a kg at last Wednesday’s auction conducted by the CPMC, Kumily and the total decline was to the tune of Rs 60 a kg during the week till Saturday. However, on Sunday, it moved up by Rs 30 a kg in the auction held by the KCPMC, according to P.C. Punnoose, General Manager, CPMC. In fact, after Diwali the average price has been ruling above Rs 500 a kg.
Thin arrivals
There appears to be a slowdown in retail sales in the upcountry markets. Besides, purchases for Holi have not yet started giving the impression that the dealers are having some stocks in their inventory, he said. On other hand, arrivals at the auctions were very thin at single-digit figures and that in turn might be dissuading most of the traders from attending the auctions, he said.
Arrivals on Friday and Saturday were nine tonnes and six tonnes respectively. Out of nine tonnes, eight tonnes were sold, while of the six tonnes, three tonnes were withdrawn.
However, at the Sunday auction the arrivals stood at 23.5 tonnes and almost the entire quantity was sold out. The maximum price was Rs 649.50 and the minimum Rs 444 a kg. The average price moved up to Rs 656 a kg from Rs 535 on last Saturday, he said.
Picking has almost come to an end and what ever quantity arrives at the auctions, at present, is that released by the growers who are holding stocks.
Total arrivals during the current season up to February 28 stood at 3,866 tonnes compared to 6,126 tonnes in the same period last year. Similarly, sales have also dropped to 3,600 tonnes (5,631 tonnes). Weighted average price was at Rs 302.14 (Rs 487.15 a kg).
Prices of the graded varieties as on March 1 were AGEB Rs 675 - Rs 685, AGB Rs 600 - Rs 610, AGS Rs 575 - Rs 585 and AGS 1 Rs 555 - Rs 565 a kg.
The weather conditions so far during the current season were favourable and indications are that the growing area might get some summer showers in the coming days, trading sources said.
Saturday, March 1, 2008
Cardamom, Pepper To Benefit
Kochi: Special attention given to pepper and cardamom may have positive impact on these plantation crops. Replanting of the existing low yielding plantations with high yielding varieties could lead to increased productivity per hectare. However, its success will depend on how the replanting and new planting schemes are drawn up and implemented. Budget 2008-09
The average pepper yield per hectare in India is estimated at less than 400 kg as against over 2,000 kg in Vietnam. Similarly, the average productivity per hectare of cardamom is also at the lowest levels at below 300 kg. The low yield has resulted in high cost of production making these commodities uncompetitive in the world market.
Given this scenario, the announcement made in the Budget 2007-08 is a positive step in the right direction, provided effective mechanism is put in place for the implementation of schemes aimed at increasing the productivity.
The waiver of loans for small and marginal farmers would benefit a good number of cardamom and pepper growers spread over Kerala, Karnataka and Tamil Nadu. A substantial number of cardamom growers fall under medium and major category who could be benefited by going for a one-time settlement with the banks.
The allocation of Rs 1,000 crore for horticulture crops, including coconut and cashew is also a positive step. The allocation for each crop and schemes for which it has been earmarked is yet to be known.
The average pepper yield per hectare in India is estimated at less than 400 kg as against over 2,000 kg in Vietnam. Similarly, the average productivity per hectare of cardamom is also at the lowest levels at below 300 kg. The low yield has resulted in high cost of production making these commodities uncompetitive in the world market.
Given this scenario, the announcement made in the Budget 2007-08 is a positive step in the right direction, provided effective mechanism is put in place for the implementation of schemes aimed at increasing the productivity.
The waiver of loans for small and marginal farmers would benefit a good number of cardamom and pepper growers spread over Kerala, Karnataka and Tamil Nadu. A substantial number of cardamom growers fall under medium and major category who could be benefited by going for a one-time settlement with the banks.
The allocation of Rs 1,000 crore for horticulture crops, including coconut and cashew is also a positive step. The allocation for each crop and schemes for which it has been earmarked is yet to be known.
Saturday, February 23, 2008
Cardamom Steady On Lower Arrivals
Kochi: Cardamom prices at the auctions held in Kerala and Tamil Nadu during the week ruled steady on tight supply. Run-up to Budget 2008-09
The individual average prices hovered around Rs 600 a kg at the auctions held during the week.
Average prices at KCPMC auction on Sunday stood at Rs 615, while that on Monday at the CPA auction in Bodinayakannur dropped to Rs 593.99.
At the Heddar Systems auction on Tuesday, it moved up to Rs 610.92 a kg. On Wednesday, at the CPMC auction it declined to Rs 605.05 a kg.
Again at the STCL auction on Thursday, it dropped further to Rs 599.85 a kg.
Arrivals remained thin compared to that of the same period in the previous seasons, market sources said.
At the STCL auction in Bodinayakannur on Thursday, total arrivals stood at 25 tonnes, of which, 23 tonnes of cardamom were sold.
Maximum price was Rs 709 a kg and the minimum Rs 251.50 a kg. Export buying was negligible, they said.
Buyers active
At the CPMC auction on Wednesday at Vandamettu total arrivals stood at 22 tonnes and the entire quantity was sold out, P.C. Punnoose, General Manager, CPMC, told Business Line.
According to him, buyers were active and the maximum price was Rs 681.50 a kg and the minimum Rs 481 a kg.
Exporters bought three tonnes of the capsules as there is said to be demand from selected overseas buyers for the superior variety Indian produce.
Upcountry buyers were also active as it appears that they were buying for advance sales next season.
Total arrivals during the current season up to February 20 stood at 3,732 tonnes compared to 5,830 tonnes in the corresponding period last season.
Weighted average
Sales also fell sharply to 3,478 tonnes from 5,353 tonnes in the previous season. Weighted average price stood at Rs 488.55 a kg compared to Rs 300.38 a kg as on February 20, 2007.
Prices of graded varieties as on February 16 were AGEB Rs 715–725, AGB Rs 645–655, AGS Rs 630-640 and AGS 1 Rs 610–620 a kg.
Prices in the local market at Bodinayakannur on Thursday were AGEB Rs 690–700, AGB Rs 620–630, AGS Rs 610–615, AGS1 Rs 585–595 a kg. Bulk was being sold at Rs 630–710 a kg.
The weather conditions so far in the growing areas have been favourable, growers said, adding, “One shower a month will be good for the crop.”
The individual average prices hovered around Rs 600 a kg at the auctions held during the week.
Average prices at KCPMC auction on Sunday stood at Rs 615, while that on Monday at the CPA auction in Bodinayakannur dropped to Rs 593.99.
At the Heddar Systems auction on Tuesday, it moved up to Rs 610.92 a kg. On Wednesday, at the CPMC auction it declined to Rs 605.05 a kg.
Again at the STCL auction on Thursday, it dropped further to Rs 599.85 a kg.
Arrivals remained thin compared to that of the same period in the previous seasons, market sources said.
At the STCL auction in Bodinayakannur on Thursday, total arrivals stood at 25 tonnes, of which, 23 tonnes of cardamom were sold.
Maximum price was Rs 709 a kg and the minimum Rs 251.50 a kg. Export buying was negligible, they said.
Buyers active
At the CPMC auction on Wednesday at Vandamettu total arrivals stood at 22 tonnes and the entire quantity was sold out, P.C. Punnoose, General Manager, CPMC, told Business Line.
According to him, buyers were active and the maximum price was Rs 681.50 a kg and the minimum Rs 481 a kg.
Exporters bought three tonnes of the capsules as there is said to be demand from selected overseas buyers for the superior variety Indian produce.
Upcountry buyers were also active as it appears that they were buying for advance sales next season.
Total arrivals during the current season up to February 20 stood at 3,732 tonnes compared to 5,830 tonnes in the corresponding period last season.
Weighted average
Sales also fell sharply to 3,478 tonnes from 5,353 tonnes in the previous season. Weighted average price stood at Rs 488.55 a kg compared to Rs 300.38 a kg as on February 20, 2007.
Prices of graded varieties as on February 16 were AGEB Rs 715–725, AGB Rs 645–655, AGS Rs 630-640 and AGS 1 Rs 610–620 a kg.
Prices in the local market at Bodinayakannur on Thursday were AGEB Rs 690–700, AGB Rs 620–630, AGS Rs 610–615, AGS1 Rs 585–595 a kg. Bulk was being sold at Rs 630–710 a kg.
The weather conditions so far in the growing areas have been favourable, growers said, adding, “One shower a month will be good for the crop.”
Saturday, February 9, 2008
Cardamom Prices Recover On Low Arrivals
Kochi: The cardamom prices after a fall last week recovered marginally during the week at auctions held in Kerala and Tamil Nadu on thin arrivals and buying support.
Total arrivals during the current season up to February 6 fell by 1,826 tonnes to 3,553 tonnes compared to the previous corresponding period.. Consequently, sales have also fallen by 1,632 tonnes to 3,316 tonnes. The weighted average price increased by Rs 180.29 a kg during the current season to Rs 478.04 a kg.
At the STCL auction on Thursday in Bodinayakannur, the arrivals stood at 16 tonnes, of which 14 tonnes were sold. The maximum price was Rs 656 a kg and the minimum Rs 239.50 a kg. The individual average price was Rs 604.83 a kg.
Arrivals at the Cardamom Processing and Marketing Company (CPMC) auction on Wednesday at Vanndanmettu were at 25 tonnes and the entire quantity was sold out. The average price was Rs 619. Arrivals at other auctions except on Sunday, Wednesday and Thursday were below 8 tonnes.
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Maximum price at the auction was Rs 703 a kg and minimum Rs 468.50 a kg. Current bulk was being sold at Rs 640-Rs 650 a kg, P.C. Punnoose, General Manager, CPMC, told Business Line. Delhi-based buyers, who had been silent during the past couple of weeks, were active and buying, he said. Exporters bought 1.5 tonnes. Prices of graded varieties as on February 2 were AGEB Rs 740-Rs 750, AGB Rs 670- Rs 680, AGS Rs 650-Rs 660 and AGS 1 Rs 620-Rs 630 a kg.
In Bodinayakannur local market, the prices on Thursday were AGEB Rs 720 - Rs 730, AGB Rs 650 - Rs 660, AGS Rs 630 - Rs 640 and AGS 1 Rs 600 - Rs 610. Bulk was fetching Rs 640 - Rs 720 a kg.
The growing areas are shrouded by clouds and if it rains in the coming days the prices are expected to dip by at least Rs 20 a kg.
Total arrivals during the current season up to February 6 fell by 1,826 tonnes to 3,553 tonnes compared to the previous corresponding period.. Consequently, sales have also fallen by 1,632 tonnes to 3,316 tonnes. The weighted average price increased by Rs 180.29 a kg during the current season to Rs 478.04 a kg.
At the STCL auction on Thursday in Bodinayakannur, the arrivals stood at 16 tonnes, of which 14 tonnes were sold. The maximum price was Rs 656 a kg and the minimum Rs 239.50 a kg. The individual average price was Rs 604.83 a kg.
Arrivals at the Cardamom Processing and Marketing Company (CPMC) auction on Wednesday at Vanndanmettu were at 25 tonnes and the entire quantity was sold out. The average price was Rs 619. Arrivals at other auctions except on Sunday, Wednesday and Thursday were below 8 tonnes.
• Quarterly results of corporates: Check out
Maximum price at the auction was Rs 703 a kg and minimum Rs 468.50 a kg. Current bulk was being sold at Rs 640-Rs 650 a kg, P.C. Punnoose, General Manager, CPMC, told Business Line. Delhi-based buyers, who had been silent during the past couple of weeks, were active and buying, he said. Exporters bought 1.5 tonnes. Prices of graded varieties as on February 2 were AGEB Rs 740-Rs 750, AGB Rs 670- Rs 680, AGS Rs 650-Rs 660 and AGS 1 Rs 620-Rs 630 a kg.
In Bodinayakannur local market, the prices on Thursday were AGEB Rs 720 - Rs 730, AGB Rs 650 - Rs 660, AGS Rs 630 - Rs 640 and AGS 1 Rs 600 - Rs 610. Bulk was fetching Rs 640 - Rs 720 a kg.
The growing areas are shrouded by clouds and if it rains in the coming days the prices are expected to dip by at least Rs 20 a kg.
Thursday, January 24, 2008
Upsurge Continues In Cardamom
Kochi: The upsurge in cardamom prices continued on thin arrivals and good demand during the week at auctions held in Kerala and Tamil Nadu.
Kerala auctions
Maximum price at the e-auction held on Sunday by the Kerala Cardamom Processing and Marketing Cooperative (KCPMC) at Vandamettu increased to Rs 774 a kg and the minimum Rs 152 a kg.
Good colour 8 mm bold capsules were fetching Rs 750-800 a kg while 7.5-8 mm Rs 700-725 a kg and current bulk was being sold at Rs 650-675 a kg. The average price was Rs 643 a kg. Total arrival at this auction stood at 25.8 kg.
• Quarterly results of corporates: Check out
According to P.C. Punnoose, General Manager, KCPMC, the arrivals in recent weeks were just half of what was coming during this period last year.
TN sale
At the CPA auction in Bodinayakannur on Monday, the arrivals were only seven tonnes of cardamom. The prices were said to be steady at higher levels. Arrivals at the ISPCS auction on January 19 stood at 8.5 tonnes and almost the entire quantity was sold out. The average price was Rs 638.78 a kg.
The active participation of the buyers at the auctions indicates that the investors are ready to buy and stock anticipating further increase in the prices, he told Business Line. Total arrival during the current season stood at 3,258 tonnes as on Januray 19 as against 4,835 tonnes during the same period last year registering a fall of 1,577 tonnes. Correspondingly the sales also dropped by 1,393 tonnes to 3,048 tonnes from 4,441 tonnes.
The average price as January 19 stood at 465.12 a kg as against Rs 295.03 a kg last season.
Prices range
Prices of the graded varieties were AGEB Rs 745-755, AGB Rs 685-695, AGS Rs 665-675 and AGS 1 Rs 635-645. Local market prices in Bodinayakannur were AGEB Rs 730-740, AGB Rs 670-680, AGS Rs 650-660 and AGS 1 Rs 625-640 a kg. Current bulk was fetching Rs 625-725 a kg.
Kerala auctions
Maximum price at the e-auction held on Sunday by the Kerala Cardamom Processing and Marketing Cooperative (KCPMC) at Vandamettu increased to Rs 774 a kg and the minimum Rs 152 a kg.
Good colour 8 mm bold capsules were fetching Rs 750-800 a kg while 7.5-8 mm Rs 700-725 a kg and current bulk was being sold at Rs 650-675 a kg. The average price was Rs 643 a kg. Total arrival at this auction stood at 25.8 kg.
• Quarterly results of corporates: Check out
According to P.C. Punnoose, General Manager, KCPMC, the arrivals in recent weeks were just half of what was coming during this period last year.
TN sale
At the CPA auction in Bodinayakannur on Monday, the arrivals were only seven tonnes of cardamom. The prices were said to be steady at higher levels. Arrivals at the ISPCS auction on January 19 stood at 8.5 tonnes and almost the entire quantity was sold out. The average price was Rs 638.78 a kg.
The active participation of the buyers at the auctions indicates that the investors are ready to buy and stock anticipating further increase in the prices, he told Business Line. Total arrival during the current season stood at 3,258 tonnes as on Januray 19 as against 4,835 tonnes during the same period last year registering a fall of 1,577 tonnes. Correspondingly the sales also dropped by 1,393 tonnes to 3,048 tonnes from 4,441 tonnes.
The average price as January 19 stood at 465.12 a kg as against Rs 295.03 a kg last season.
Prices range
Prices of the graded varieties were AGEB Rs 745-755, AGB Rs 685-695, AGS Rs 665-675 and AGS 1 Rs 635-645. Local market prices in Bodinayakannur were AGEB Rs 730-740, AGB Rs 670-680, AGS Rs 650-660 and AGS 1 Rs 625-640 a kg. Current bulk was fetching Rs 625-725 a kg.
Monday, January 14, 2008
Cardamom Continues To Rule High
Kochi: Upward trend continued in cardamom prices at the auctions held in Kerala and Tamil Nadu last week.
Anticipating higher demand and a consequent further price rise, major growers and traders are said to be holding back an estimated 1,000 tonnes of the commodity.
Monthly Requirement
The monthly requirement of cardamom in the country is estimated at 500 tonnes and the demand from January to till the beginning of the next season (Aug) would be about 3,500 tonnes. With the current rate of arrival, the total requirement could not be met, they said.
The arrivals continued to remain thin and as a result the prices were ruling high. Expectations are that the demand might move up next month following change in the weather conditions in north India and that in turn might push up the prices further.
• Check out our Yearender Special
The prevailing high prices here and the fixing of import tariff value at $6 a kg plus import duty at 70 per cent, alleged to have paved the way for smuggling the commodity into the country through the borders.
STCL auction
Arrivals at the STCL auction held on Thursday in Bodinayakannur stood at 16 tonnes and the entire quantity was sold out. Prices ruled firm at higher levels. The maximum price here was Rs 656.50 and the minimum Rs 306 a kg. Average price was Rs 593.23 a kg. There was no export buying, sources said.
CPMC sale
At the auction of the Cardamom Processing and Marketing Company (CPMC) at Vandanmettu on Wednesday, the arrivals stood at 30.7 tonnes and the entire quantity was sold out. Maximum price went up to Rs 710.50 a kg and the minimum Rs 388.50 a kg. Average prices went up to Rs 602.41 a kg. 8 mm bold was fetching Rs 725-750 a kg while 7.5 mm to 8 mm was being sold at Rs 675-700 a kg. Current bulk was fetching Rs 630-650 a kg.
Exporters bought five tonnes of the commodity on Wednesday to meet their overseas demand from selected buyers in Saudi Arabia, Mr P.C. Punnoose, General Manager, CPMC, told Business Line.
In the local market in Bodinayakannur, 8 mm bold was fetching Rs 680-700 a kg, 7-8 mm bold Rs 670-680 a kg while bulk was fetching Rs 620-640 a kg.
Total arrivals during the current season up to January 6 stood at 3,117 tonnes as against 4,520 tonnes in the same period last season while sales were at 2,920 tonnes compared to 4,131 tonnes last season. Weighted average price shot up to Rs 459.05 a kg from Rs 296.46 the previous season.
The weather conditions so far remained favourable and if the growing areas received some showers in the coming days, the late crop would be good, trading sources said.
Anticipating higher demand and a consequent further price rise, major growers and traders are said to be holding back an estimated 1,000 tonnes of the commodity.
Monthly Requirement
The monthly requirement of cardamom in the country is estimated at 500 tonnes and the demand from January to till the beginning of the next season (Aug) would be about 3,500 tonnes. With the current rate of arrival, the total requirement could not be met, they said.
The arrivals continued to remain thin and as a result the prices were ruling high. Expectations are that the demand might move up next month following change in the weather conditions in north India and that in turn might push up the prices further.
• Check out our Yearender Special
The prevailing high prices here and the fixing of import tariff value at $6 a kg plus import duty at 70 per cent, alleged to have paved the way for smuggling the commodity into the country through the borders.
STCL auction
Arrivals at the STCL auction held on Thursday in Bodinayakannur stood at 16 tonnes and the entire quantity was sold out. Prices ruled firm at higher levels. The maximum price here was Rs 656.50 and the minimum Rs 306 a kg. Average price was Rs 593.23 a kg. There was no export buying, sources said.
CPMC sale
At the auction of the Cardamom Processing and Marketing Company (CPMC) at Vandanmettu on Wednesday, the arrivals stood at 30.7 tonnes and the entire quantity was sold out. Maximum price went up to Rs 710.50 a kg and the minimum Rs 388.50 a kg. Average prices went up to Rs 602.41 a kg. 8 mm bold was fetching Rs 725-750 a kg while 7.5 mm to 8 mm was being sold at Rs 675-700 a kg. Current bulk was fetching Rs 630-650 a kg.
Exporters bought five tonnes of the commodity on Wednesday to meet their overseas demand from selected buyers in Saudi Arabia, Mr P.C. Punnoose, General Manager, CPMC, told Business Line.
In the local market in Bodinayakannur, 8 mm bold was fetching Rs 680-700 a kg, 7-8 mm bold Rs 670-680 a kg while bulk was fetching Rs 620-640 a kg.
Total arrivals during the current season up to January 6 stood at 3,117 tonnes as against 4,520 tonnes in the same period last season while sales were at 2,920 tonnes compared to 4,131 tonnes last season. Weighted average price shot up to Rs 459.05 a kg from Rs 296.46 the previous season.
The weather conditions so far remained favourable and if the growing areas received some showers in the coming days, the late crop would be good, trading sources said.
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