The Hindu Business Line : Cardamom rules steady

Total arrivals during the current season up to April 14 stood at 4,386 tonnes, of which 4,003 tonnes were sold. The weighted average price was Rs 304.61 a kg. However, arrivals and sales in the same period last season were on the higher side. From total arrivals of 4,720 tonnes up to April 14, 2004, 4,352 tonnes were sold and the average price was Rs 364.10 a kg.

Prices of graded varieties were: AGEB Rs 415-425, AGB Rs 315-Rs 325, AGS Rs 300-310 and AGS1 Rs 275-285 a kg.

At the auction on April 13 at Kumily 217 kg of 8 mm bold was sold at Rs 486 a kg. Bulk fetched Rs 290-300. Meanwhile, at Bodinayakannur running bulk was sold at Rs 280-300 a kg while the stock bulk was at Rs 320-330 a kg, market sources told Business Line.

Buying activities by upcountry traders were slow as cardamom from Guatemala is available in the north Indian markets at competitive prices. The 7.5-mm imported cardamom was being sold at Rs 320 a kg, while the indigenous produce of the same grade is sold at Rs 360-380 a kg, they claimed.

Cardamom imports during April 2004-February 2005 have shown substantial increase.

As against 60 tonnes, worth Rs 1.37 crore, in April 2003-February 2004 (unit value Rs 227.95 a kg), 227 tonnes, valued at Rs 2.74 crore, were imported in April 2004-February 2005 (Rs 120.94 a kg).

Trading sources have estimated the production this season in Kerala and Tamil Nadu at 9,000 tonnes. According to them, the growers are holding back a substantial quantity anticipating better prices.

Early rains this year, they said, would advance the next crop, which would reduce the gap between both the current and next season. Normally, there would be 4-5 months gap between the harvesting seasons depending on the summer rains and the southwest monsoon.

Given the present favourable weather conditions new crop might enter the market much earlier than usual and hence the dealers/traders are buying only to meet their current requirements. Therefore, a buying pressure during the lean season appears to be unlikely, the sources pointed out.

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