Financial Daily from THE HINDU group of publications
Saturday, May 07, 2005
Financial Daily from THE HINDU group of publications Saturday, May 07, 2005 |
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Agri-Biz & Commodities
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Spices & Condiments Uninterrupted cardamom auctions likely this year G.K. Nair
Kochi , May 6 THE anticipation of an early crop arriving in the market in June might result in uninterrupted auctions this year unlike in the past when the major auctioneers unofficially used to suspend auctions for about six weeks in the lean season. The traders have agreed to continue auctions throughout the year, a major auctioneer said, adding there might not be suspension of auction this year and even in the off season auctions would continue. The Spices Board has been insisting on uninterrupted auctions through out the year. But the auctioneers used to suspend it every year citing in adequate arrivals of cardamom at the centres. Favourable weather conditions prevailing in the growing tracts in Kerala, Tamil Nadu and Karnataka so far would lead to the crop arriving in the market by mid-June, they said. Add to this, as most of the planters have hybrid varieties in their plantations, now in yielding stages, the production in 2005-06 season is likely to be around 16,000-18,000 tonne as against about 11,000 tonne in 2004-05 season, traders claimed. In fact, the area under the crop had come down from 1,05,000 hectares during 1987 to 72,451 ha now. In spite of the reduction in area, the production has gone up substantially, largely due to innovations of the farmers adequately supported by the Indian Cardamom Research Institute (ICRI) in Myladumpara in Kerala's Idukki district. "The average productivity in a well managed plantation has gone up from 125 kg a hectare to more than 2,500 kg, and such a quantum jump in productivity was not witnessed in any other plantation crop", Dr J. Thomas, Director, ICRI, told Business Line. Meanwhile, according to market sources in Bodinayakannur, the prices fell by Rs 30-40 a kg during the week. The buyers were active as the prices remained at the lowest levels. No export buying has taken place during the week. Medium bulk (inferior grade) was being sold at Rs 230-250 a kg while that having good colour fetched Rs 270 a kg at Bodinayakannur. Capsules of 6.5 mm (bold) was fetching Rs 300-320, while 7 mm fetched Rs 350-360 a kg. In the auction in Kumily, bulk was sold at Rs 265-275 a kg while 7 mm sold at Rs 310 a kg. The 8 mm bold fetched Rs 450-456 a kg. All the 35 tonnes of cardamom arrived here were sold out. As the prices were low, there was good buying, trading sources in Kumily said.
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