The Hindu Business Line : Cardamom rules steady at auctions

Average prices of bulk varieties were quoted at Rs 355-360 per kg on Tuesday. Prices of graded varieties were AGEB Rs 425-435, AGB Rs 320-330, AGS Rs 300-310 and AGS1 Rs 290-300 per kg.

Exporters as well as upcountry buyers were active. In There were good export orders last week, which would be materialised this month, trading sources said.

The average prices have remained at around Rs 370 per kg throughout the current season, whereas it was dwindling between Rs 550 and Rs 600 per kg last season.

"Rs 400 a kg would be a healthy price", Mr P.C. Punnoose, General Manager, Cardamom Processing and Marketing Company Ltd (CPMC), Kumily, told Business Line. There could be a selling pressure in February/March and thereafter there could be an upsurge in prices, he said.

According to him, arrivals had been on the higher side this season. For instance, arrivals at CPMC auctions up to December-end stood at over 1,000 tonnes, which was the highest ever.

During the current season up to February 2, arrivals stood at 3,660 tonnes, out of which 3,353 tonnes were sold at the weighted average price of Rs 374.47 per kg. Last season, arrivals stood at 2,809 tonnes with sales accounting for 2,496 tonnes and the weighted average price was Rs 601.78 per kg.

As the prices continued to rule at lower levels, high-grade capsules such as 8mm and 7.5 mm bold were not arriving in the market. Much of the arrivals were of inferior quality, market sources in Bodinayakannur said.