The Hindu Business Line : Cardamom slide continues

The arrivals also dropped as harvesting in most of the areas came to a close, except in some of the major plantations where irrigation facilities still exist.

Arrivals at Spices Trading Corporation Ltd (STCL) auction in Bodinayakannur on Thursday stood at 10 tonnes. As the buyers remained quiet the prices declined. 8 mm and 7 mm bold cardamom does not find a place in the arrivals, which constituted mainly of inferior varieties. Therefore, the prices quoted ranged between Rs 270 and Rs 300 per kg, trading sources in Bodi told Business Line.

However, arrivals at the Cardamom Processing and Marketing Company (CPMC) auctions at Kumily, Kerala, stood at 31 tonnes on Wednesday. It included a little quantity of 8 mm bold (500 kg), which was sold at Rs580 per kg and a few tonnes of 7 mm capsules that fetched Rs 430 a kg. 6 mm - 6.5 mm bulk was available at Rs 330 while the Mysore varieties were sold at Rs 300 a kg. "Market is not active as the North Indian buyers are quiet," Mr P.C. Punnoose, General Manage, CPMC, told Business Line. According to him, picking has almost stopped. Some of the farmers and traders are holding bold varieties due to the prevailing low prices, he said.

Meanwhile, traders in Bodi said that the auctioning companies are now engaged in "cycling" just to maintain the market.

Some of the major exporters were, however, active, as they are understood to have some orders in hand. The exports during February are estimated at 60 tonnes while that in March could be around 50 tonnes, official sources said.

The continuous dry spell in the growing areas and the absence of normal summer showers so far this year would have a negative impact on the crop next season, they pointed out.

Prices of the graded varieties were AGEB Rs 430-435, AGB Rs 320-330, AGS Rs 305-315 and AGS 1 Rs 285-295 a kg.

Total arrivals at the auctions during the current season up to March 3 stood at 4,188 tonnes and of which 3,845 tonnes were sold.

The weighted average price was Rs 368.46 a kg. As against this, out of the total arrivals of 3,251 tonnes 2,869 tonnes were sold in the corresponding period last season. The short supply last season had kept the prices at higher levels and as a result the weighted average price stood at Rs 591.78 a kg, they added.