The Hindu Business Line : Cardamom dips on excess supply

However, 8 mm bold variety, which was in demand but in short supply, fetched Rs 435 a kg as against Rs 410 last week. Exporters and domestic buyers were active. Major exporters of AGEB variety to West Asia and those exporting medium varieties to Japan were buying, market sources said.

The total arrivals up to December 27 stood at 5,249 tonnes as against 2,992 tonnes in the same period last season. The sales this season were at 4,923 tonnes compared with 2,812 tonnes in the corresponding period last season. The weighted average price was Rs 225.45 against Rs 301.58 a kg.

The prices of graded varieties were AGEB Rs 300 - 310, AGB Rs 220 - 230, AGS Rs 210 - 220, AGS 1 Rs170 - 180 a kg.

Meanwhile, the local prices at Bodinayakannur on Thursday were: AGEB Rs 300 - 310, AGB Rs 200 - 210, AGS Rs 190 - Rs 200 and AGS 1 Rs170 - 180 a kg. Bulk was sold at Rs 200 - Rs 250 a kg.

At the Cardamom Marketing and Processing Company auction at Kumily on Wednesday, 62 tonnes of cardamom arrived. The maximum price here was Rs 435 a kg, while the minimum Rs 97. Medium varieties fetched Rs 225 - Rs 235 a kg. The auction average was Rs 245 a kg.

The peak season arrival was expected to decline in the coming days, trading sources said, adding a positive price trend was likely in the coming weeks.

Active participation of the exporters indicates of good enquiries and orders from the Gulf markets and Japan.

Failure to meet the delivery schedule by Guatemala is said to be one of the reasons for the buyers to turn towards Indian. Besides, the current price parity and superior quality has also placed the Indian produce at an advantageous position.

If the current buying trend of the exporters were any indication, the shipments during December is expected to touch 150 tonnes as against the exports in November estimated at 125 tonnes, export sources pointed out.

The weather conditions continued to be favourable.

Though the peak harvesting season was almost over, picking was expected to continue till March / April because of the protracted rains during both the monsoon seasons, trading sources said.