The Hindu Business Line : Cardamom rules steady

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Kochi March 1 Cardamom prices ruled steady at the auctions held during the week in Kerala and Tamil Nadu with the individual average price swinging between Rs 320 and Rs 350 per kg.

However, export buying has slowed down as exporters seem to have covered what was required to meet their first round of overseas demand and they are now waiting for the next round of orders, auctioning sources said.

Similarly, there has been a slowdown in the north Indian domestic buying activity probably due to "Holi" holidays, they said.

Yet the market remained steady, as there was good buying on the assumption that there would be a gap in supply between the current crop and the next crop because of the continuous dry spell in the growing regions.

Prices at the Kumily auction on Wednesday conducted by Cardamom Processing and Marketing Company (CPMC) ruled steady, Mr P.C. Punnoose, General Manager, CPMC, told Business Line.

Arrivals stood at 65 tonnes, of which 62 tonnes of the capsules were sold.

The maximum price fetched was Rs 481 per kg by 8mm bold having good colour and the minimum was Rs 171. 7.5 mm and 7mm were sold at Rs 390-420 and Rs 375-385 per kg, respectively.

The average prices at various centres were: Rs 343.35 (KCPMC, Kumily on Sunday), Rs 321.77 (CPA, Bodinayakannur on Monday), Rs 335.02 (Header Systems, Nedumkandam on Tuesday) and Rs 333.14 (CPMC, Kumily on Wednesday).

Arrivals, sales

The total arrivals during the current season as on February 27 stood at 6,061 tonnes, of which 5,569 tonnes were sold. During the same period last year, the arrivals and sales were at 7,053 tonnes and 6,597 tonnes, respectively.

The weighted average price as on February 27 was Rs 301.79 compared with Rs 220.62 during the corresponding date last year.

The prices of graded varieties as on February 24 were AGEB Rs 430-440, AGB Rs 350-360, AGS Rs 335-345 and AGS 1 Rs 300-310 per kg. The local market prices at Bodinayakannur on Thursday were AGEB Rs 420-430, AGB Rs 340-350, AGS Rs 325-335 and AGS 1 Rs 290-300. The current bulk was being sold at Rs 300-350 per kg.

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