The Hindu Business Line : Cardamom prices continue upward trend

Compared to last Wednesday, the prices showed an increase of Rs 50 a kg. The individual average prices were above Rs 360 a kg. At the CPA auction held on Monday at Bodinayakannur the average price stood at Rs 360.62 while on Tuesday at Header Systems auction in Nedumkandam it was at Rs 356.88 a kg.

At the auction held on Wednesday at Kumily by the Cardamom Processing and Marketing Company (CPMC) the average price went up to Rs 380.18. The arrivals there stood at 55.5 tonne and almost the entire quantity was sold out. Exporters bought 7.5 tonne. Domestic buyers were active anticipating that the prices might move up further.

Arrivals, however, increased during the week because of the Easter holidays from Friday. Besides, as the prices moved up some of the growers were slowly releasing their produce.

The highest price on Wednesday was Rs 527 a kg fetched by 8 mm bold good colour. Price of this variety ranged from Rs 500 - Rs 527 a kg. 7.5 mm bold was being sold at Rs 450- Rs 475 while 7 mm at Rs 420 - Rs 450 a kg.

Current bulk was fetching Rs 390 - Rs 400 a kg.

Anticipating a tight supply position in the coming months domestic buyers were actively buying, Mr P.C. Punnoose, General Manager, CPMC told Business Line.

The total arrivals during the current season up to April 4 stood at 6,982 tonne as against 8,000 tonne in the same period last season. Sales were at 6,425 tonne compared to 7,468 tonne. The weighted average price moved up to Rs 305.74 a kg this season from Rs 217.22 in the previous season.

Prices of the graded varieties as on March 31 were AGEB Rs 475 - Rs 485, AGB Rs 385- Rs 395, AGS Rs 370 - Rs 380 and AGS 1 Rs 335 - Rs 345 a kg.

The open market prices in Bodinayakannur were AGEB Rs 420 - Rs 430, AGB Rs 330 - Rs 340, AGS Rs 320 - Rs 330 and AGS 1 Rs 285- Rs 295. Current bulk price was Rs 300 - Rs 350 a kg.

The drought conditions continued to prevail in the growing areas and picking has almost come to an end. The next crop is expected to be late because of the unfavourable weather conditions, market sources said.