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G.K. Nair

Kochi , Dec. 14

Cardamom prices continued to rule steady on good buying support despite increased arrivals at auctions in Kerala and Tamil Nadu during the week.

For the past four weeks, the market has been stable with marginal fluctuations.

Dealers holding the view that current prices are expected to be lowest this season are buying and stocking, according to Mr P.C. Punnoose, General Manager, Cardamom Processing and Marketing Company (CPMC), Kumily, Kerala.

Exporters having orders from markets in West Asia were also active and bought about 10 tonne at the CPMC auctions held on Wednesday in Kumily, he said.

Overseas demand

Export sources said 21.5 tonne was exported in November last from Kerala to Tamil Nadu.

According to them, there was a reported drop in Guatemala production this year besides the capsules were said to be much inferior.

Domestic dealers have also increased their buying because of the same phenomenon, they said.

At the Kumily auction on Wednesday, 71 tonnes arrived, of which 69 tonne was sold.

The maximum price was Rs 485 a kg for 8 mm bold, while 7.5 mm fetched Rs 340-350 a kg, 7 mm was sold at Rs 310-325.

Bulk fetched Rs 275-285 a kg, Mr Punnoose said.

Total sales in auctions during November increased substantially by 350-977 tonnes from that in October and yet prices remained steady during the past four weeks, market sources said.

Total arrivals as on December 14 stood at 3.773 tonnes, of which 3,432 tonnes were sold. The weighted average price was at Rs 302.44 a kg.

During the corresponding period last season, arrivals were at 4,678 tonne and sales at 4,378 tonne while the weighted average price was Rs 227.13 a kg.

The average prices of graded varieties as on December 9 were AGEB Rs 370-380, AGB Rs 285-295, AGS Rs 265-275 and AGS 1 Rs 235-245 a kg.

Market prices

The local market prices in Bodinayakannur on December 14 were AGEB Rs 330-345, AGB Rs 265-275, AGS Rs 240-245 and AGS 1 Rs 220-240 a kg. Current bulk fetched Rs 250-320 a kg.

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