The Hindu Business Line : Cardamom recovers on buying support

The entire quantity of 51 tonnes that arrived at Cardamom Processing and Marketing Company (CPMC), Kumily, was sold out on Wednesday. The prices also moved up.

8mm bold fast colour fetched Rs 470 per kg while 7.5 mm Rs 345-355 and 7 mm Rs 290-310. Current bulk fetched Rs 270-290 per kg. The average price at the auction stood at Rs 300 per kg, Mr P.C. Punnoose, General Manager, CPMC, told Business Line.

Exporters bought seven tonnes of cardamom. However, investors were not active in the market. North Indian buyers were actively involved, he said.

There has been an increase in sales value. The total value during the current season as on January 1 stood at Rs 118.52 crore from 3,990 tonnes sold as against Rs 114.7 crore from 5,090 tonnes in the same period last year. The average price during the current season went up to Rs 297.06 per kg from Rs 225.35 per kg the previous season. The increase in total value shows the rise in prices. The total arrivals as on January 1 this stood at 4,355 tonnes as against 5,422 tonnes in the corresponding period previous season.

The prices of graded varieties in the domestic market (Bodinayakannur) on Wednesday were AGEB Rs 365-375, AGB Rs 290-300, AGS Rs 265-275 and AGS1 Rs 230-240 while that of current bulk was Rs 220-250 per kg, trading sources in Bodi said.

However, the farmers have expressed fear of a drought situation this year going by the present weather conditions. According to them, this phenomenon indicates of a severe drought, which in turn may lead to late crop this year and fall in output next year.