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G.K. Nair

Kochi March 29 Cardamom prices moved up on thin arrivals and good demand during the week at auctions held in Kerala and Tamil Nadu.

The arrivals continued to decline as harvesting has almost come to an end.

Most of what is coming to the market now is from the stocks held by the major growers and traders, market sources told Business Line.

Domestic buyers were active while exporters by and large kept away because of the high prices, they added.

At the major auctioning centre, Cardamom Processing and Marketing Company (CPMC), Kumily the arrivals on Wednesday stood at around 27 tonnes and the entire quantity was sold out, said Mr P.C. Punnoose, General Manager.

The highest price fetched at the CPMC auction was Rs 502 a kg. The 8 mm bold with good colour sold at Rs 450-500, while 7.5 mm and 7 mm capsules fetched Rs 400-450 and Rs 390-400 respectively. The average price on Wednesday was Rs 359.87.

According to Mr Punnoose, there is unlikely to be any harvesting in April-June and given the good demand and tight supply position the average price might go up to Rs 400-450.

The total arrivals at the auctions during the current season up to March 29 stood at 6,798 tonnes against 7,797 tonnes during the corresponding period in the last season.

Sales during the current season stood at 6,252 tonnes (7,283 tonnes).

There has been a clear drop of around 1,000 tonnes in both arrivals and sales during the current season.

The weighted average price continued to remain above Rs 300 a kg at Rs 304.02 against Rs 217.81 on March 27.

The prices of graded varieties as on March 24 were: AGEB Rs 420-430, AGB Rs 345-355, AGS Rs 330-340 and AGS 1 Rs 295-305.

The prices in the local market in Bodinayakannur were: AGEB Rs 420-430, AGB Rs 330-340, AGS Rs 320-330 and AGS 1 Rs 290-300. Current bulk sold at Rs 300-360.

Unfavourable weather conditions continued to prevail in the growing areas and plants have started falling in several plantations without irrigation facilities, growers said.

In recent years, because of sufficient rains during the summer months, harvesting used to continue albeit in small quantities till the beginning of the next season.

This year the situation has changed; there is going to be a gap between the two seasons, they said.

The dry spell will lead to a delay in the next crop, which normally starts arriving from July, they added.

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