The Hindu Business Line : Cardamom may rise as truckers' stir ends

Lack of movement of goods from the auction centres in Kerala and Tamil Nadu last week had led to decline in prices, market sources in Kumily (Kerala) and Bodinayakannur in Tamil Nadu told Business Line.

Since the strike had been called off, prices were expected to improve, they claimed.

Besides, there were no auctions on account of Onam festival in Kerala last week, they said.

The next auction will be held by Cardamom Processing and Marketing Company at Kumily on Wednesday.

Prices of graded varieties were AGEB Rs 430-435, AGB Rs 335-340, AGS Rs 320-325 and AGS 1 Rs 290-300 a kg.

Up to August 28, arrivals stood at 184 tonne and of which, 168 tonne were sold at the weighted average price of Rs 360.98 a kg.

In the corresponding period a year ago, 226 tonnes were sold at the average price of Rs 380.23 a kg, sources said.

They attributed the decline to the severe drought in some of the growing areas early this year. However, if the present weather conditions prevailed and with timely northeast monsoon, the crop would be better in the existing plantations, they said.

As the arrivals of the new crop consisted of bold variety capsules, the exporters were expected to participate actively in the coming auctions, they said.

Official sources said export in September was expected to be around 70 tonne.

If the prices remained competitive with that of Guatemala, the demand from upcountry would also improve, they said.

Guatemala cardamom was arriving in the north Indian markets through various channels, they alleged.

The Spices Board has granted permission to Header Systems (India) Ltd to conduct auction at Nedumkandam in Kerala's Idukki district to cover that part of the growing region.

The company would conduct its first auction on September 14 and it would be continued once in a fortnight.

Meanwhile, the Kerala Cardamom Processing Marketing Cooperative is understood to have sought for shifting of its auctions from Bodinayakannur to Kumily.