The Hindu Business Line : Cardamom at 10-year low

Though there was buying support, particularly from exporters who have become active following the Spices Board's offer of airfreight assistance of Rs 30 a kg for purchases made at the auctions, the prices fell on huge arrivals, market sources told Business Line.

They said there was heavy selling pressure from growers anticipating a price rise . Arrivals at the auctions held this week at Vandanmedu, Kumily and Bodinayakkanur were 100 tonnes, 60 tonnes and 12 tonnes respectively. Total arrivals during the current season up to October 27 were at 1,645 tonne, against 1,257 tonne in the same period a year ago. The sales stood at 1,553 tonnes and 1,164 tonnes respectively. The weighted average price during the current season has dropped to Rs 310.31 from Rs 420.25 a kg last season.

As the prices continued to fall, those holding back last season's crop also have started liquidating it by mixing with the new crop. As a result, the quality of the capsules was found to be inferior, according to the sources.

The price of superior quality 8 mm bold fell to Rs350— Rs 375, while bulk was sold at Rs 250 a kg. Prices of graded varieties last weekend were AGEB Rs 350— Rs 360; AGB Rs 265— Rs 275; AGS Rs 255— Rs 265; and AGS1 Rs 235— Rs 245 a kg.

Besides according to trading sources in Bodinayakannur, some of the dealers in North India are still holding good quantity of cardamom imported from Guatemala at $4 - $4.50 a kg.