The Hindu Business Line : Cardamom prices mixed

CARDAMOM prices remained mixed at auctions held in Kerala and Tamil Nadu during the week with the prices of general bulk dropping, while that of bold varieties moving up.

At the auction held by Cardamom Marketing and Processing Company (CPMC) in Kumily on April 21, total sales stood at 30 tonnes at an average price of Rs 343 a kg. Of this quantity, three tonnes were of 8 mm and 7 mm bold varieties. The former fetched Rs 590-600, while the latter Rs 405-Rs 425 a kg, which showed an increase of Rs 10 to Rs 15 from the previous week. However, the general bulk was down by Rs 10-Rs 15, Mr P.C. Punnoose, General Manager, CPMC, told Business Line.

Mr Punnoose said upcountry buyers were active, while there was no export buying. According to him, the traders are buying only what was needed for meeting their fortnightly requirements. They are not buying to build up inventory. Last year, the prices fluctuated wildly. Initially, it shot up to an average of Rs 750 a kg but dropped later to Rs 350 a kg. Because of the sudden fall many had burnt their fingers and hence they had not taken any risk during the current season, he said. The weighted average price remained at Rs 363.75 a kg against Rs 578.60 a kg last season.

According to Mr Punnoose, the summer showers had failed so far, and hence "definitely there will be a substantial production drop next season."

According to trading sources in Bodinayakannur, the individual average price at the CPA auction there on April 19 was Rs 328 a kg, while at Vandanmedu on April 17 it was Rs 357.25 a kg.

The prices of graded varieties per kg on April 17 were AGEB Rs 455 - Rs 465; AGB Rs 340 - Rs 350; AGS Rs 320 - Rs 330; and AGS 1 Rs 295 - Rs 305 a kg. Export during April is estimated at 50 tonnes, the sources added.