Financial Daily from THE HINDU group of publications
Saturday, Dec 13, 2003
Financial Daily from THE HINDU group of publications Saturday, Dec 13, 2003 |
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Agri-Biz & Commodities
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Spices & Condiments Cardamom prices steady despite good arrivals G.K. Nair
Kochi , Dec. 12 CARDAMOM prices ruled steady at the auctions held in Kerala and Tamil Nadu despite increased arrivals. Prices appear to have stabilised at the current levels for all the varieties at least for the time being. North Indian buyers and exporters were active but both were buying mainly to meet the market demand, with little intention to stock, as they fear a further fall in the prices, market sources in the auction centres told Business Line. They said over 95 per cent of the arrivals were sold. In certain auction centres such as Vandanmedu the arrivals almost touched 70 tonnes and it showed the existence of a good crop in growing areas, they said. Export sources said there were enquiries, which are expected to be translated in to firm orders this month. An estimated 50 tonnes would be exported in December, they added. The competitive price and the comparatively superior quality had made the Indian cardamom attractive, they added. Low prices appear to have also restricted the arrival of cardamom from Guatemala. Prices of graded varieties were AGEB Rs 445 to Rs 455 per kg, AGB Rs 320 to Rs 335, AGS Rs 310 to Rs 320 and AGS 1 Rs 290 to Rs 300. Price of 8 mm bold variety has dropped to Rs 550 a kg and as a result its arrival has almost stopped. Much of the quantity traded was in the medium and sick and split varieties, the sources pointed out. During the current season up to December 10, the arrivals stood at 2,349 tonnes and of which 2,153 tonnes were sold through auctions. The weighted average price was Rs 390.83 per kg. During the corresponding period last year from the total arrival of 1,813 tonnes, 1,637 tonnes were sold at the weighted average price of Rs 627.87. The high prices prevailed last year is evident from the high average price.
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