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G.K. Nair

Kochi , Jan. 16

CARDAMOM prices continued to maintain the upward trend in auction sales at major centres in Kerala and Tamil Nadu.

Upcountry buyers were active to cover the demand in North Indian markets. They are said to have exhausted their inventories.

Meanwhile, export buying has declined which the exporters attributed to the increase in prices in recent days. According to them, the prevailing prices do not match the prices quoted by them to the buyers overseas, despite airfreight assistance of Rs 45 a kg extended by the Spices Board. They claimed that Guatemala was offering at a lower price and hence the rise in prices here now would make the Indian produce uncompetitive. Last week, only one exporting firm had bought four tonnes of cardamom.

At the same time, the arrivals have declined. The increase in demand, on the one hand, and the drop in supply, on the other, have pushed the prices up.

The average price at the auction on January 11 at Nedumkandam stood at Rs 346 a kg, while it was Rs 347.87 a kg at Kumily auction on January 12, market sources told Business Line.

As on January 10, total arrivals stood at 3,207 tonnes and of this 3,004 tonnes was sold and the weighted average price during the season was Rs 303.64 a kg.

As against this, 2,976 tonnes of cardamom was sold in the corresponding period last season from a total arrival of 3,255 tonnes. The weighted average price was Rs 378.58 a kg.

Direct sales so far during the current season are estimated at around 3,300 tonnes, they said. According to them, total production would be around 10,000 tonnes.

Prices of the graded varieties as on January 8 were AGEB Rs 455 - Rs 465 a kg, AGB Rs 350 - Rs 355, AGS Rs 330 - Rs 335, AGS1 Rs 300 - Rs310.

Harvesting is in the final rounds and it is expected to be over by the month-end. According to growers, the crop was good this season because of sufficient rains.

However, they said, growing areas did not receive any showers for over a month now and this might result in early closure of picking.

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