The Hindu Business Line : Cardamom improves

The prices have been on the decline due to heavy arrivals and for want of buying support in the previous auctions. However, on Wednesday at the auction held by Cardamom Processing and Marketing Company (CPMC) in Kumily the prices moved up by Rs 20 a kg. As a result, the individual average price increased to Rs 335 a kg from Rs 290 on Sunday, Mr P.C. Punnoose, General Manager, CPMC, told Business Line on Thursday.

He said that there was good demand for rejection varieties and hence their prices improved to Rs 185-225 from Rs 185-200 a kg. This variety was bought by industrial users such as Pan Masala.

8mm bold coloured varieties fetched a maximum price of Rs 518 a kg. It was sold at Rs 470 a kg in the previous auction. 7.5 mm was sold at Rs 400-425 while 7 mm at Rs 350-375 a kg. Current bulk fetched Rs 285-300 a kg.

The recent decline in prices, Mr Punnoose said was because of the availability of carry forward stocks with stockists in consumer centres.

Besides, when the prices were ruling high in the futures market, the buyers adopted a wait and watch approach, he said.

On the other hand, as the prices started showing a continuous drop, the growers seem to have now regulated the supply by holding back part of their produce. Arrivals at all the auction centres during the week showed a decline.