The Hindu Business Line : Buying support keeps cardamom steady

Kochi March 15 Cardamom prices continued to rule steady with the average prices remaining above Rs 300 a kg for the last two months, at the auctions held in Kerala and Tamil Nadu.

North Indian buyers were active, while the exporters were seen buying albeit little quantities during the week. Fresh demand from overseas for April shipments has yet to pour in, export sources said. The prevailing high prices are pointed out to be responsible for the weak demand.

However, the domestic buyers were active given the dip in arrivals in recent days following the drought conditions prevailing in the growing areas and a consequent fall in the output this season.

Harvesting has almost come to an end in the absence of the summer showers. Besides, the adverse weather conditions would result in delay in the next crop. Therefore, the dealers are out to buy and stock for the lean season, market sources told Business Line.

Arrivals decline

Arrivals at all the auctions have shown a declining trend. At the auction conducted by the Cardamom Processing and Marketing Company (CPMC) at Kumily on Wednesday, were at 52 tonnes and the entire quantity was sold, Mr P.C. Punnoose, General Manager, CPMC, said. The maximum price was Rs 491 and the average price was Rs 326.69 a kg.

Exporters bought eight tonnes on Wednesday, he said. 8mm bold capsules fetched Rs 420 - 450 a kg, while 7.5 mm Rs 400-420 and 7 mm Rs 350 - 375.

Total arrivals during the current season up to March 13 stood at 6,477 tonnes against 7,436 tonnes in the corresponding period the previous season, a drop of over 1,000 tonnes. The sales during the current season were at 5,953 tonnes against 6,943 tonnes. The weighted average price moved up to Rs 303.14 a kg from that of the previous season's Rs 219.29.

The prices of the graded varieties were AGEB Rs 430 - 440, AGB Rs 350 - 360, AGS Rs 335-345 and AGS 1 Rs 300 - 310 a kg. The open 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. Current bulk was being sold at Rs 300 - 350.

The usual summer showers continued to elude the cardamom growing tracts in Kerala, which produces over 80 per cent of the commodity in the country. The continuous dry spell has dried plants in several areas, Growers Association sources said.

More Stories on : Spices & Condiments | Commodity Markets

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Wheat: Sowing trouble

Making progress

Tech sought for tissue culture labs in Bengal

First shipment of arecanut lands after canalisation

Spot rubber prices improve

Icrisat mulls pacts to form `sweet sorghum for ethanol' consortia

Tobacco growers to seek FDI

Pepper futures rebound

Buying support keeps cardamom steady

Volatility in pepper futures: Demand for FMC intervention

Farm policies of developing countries flayed

Agri Ministry identifies 80 products for lower tariff cut

Pulses not covered in Special Products list

Edible oil imports decline to 9-year low in February