The Hindu Business Line : Cardamom prices decline on poor quality

Kochi June 18 Cardamom prices declined during the week in Kerala and Tamil Nadu markets due to poor quality and weak demand. Meanwhile, MAS Enterprises, the auctioneers, which did not suspend the auction along with others after May 31 and held its auction on June 15 at Vandamedu, has also decided now to suspend auction till the arrival of the next crop expected in late July/early August. Thus, from June 16 onwards there won't be any auction, auction sources said.

The harvesting would depend on the behaviour of the Southwest monsoon, which has yet to pick up in the cardamom growing areas, market sources in Bodinayakannur told Business Line.

Total Arrivals

They said apart from the uneconomical arrivals the auctioneers had to settle their accounts before the beginning of the next season. Many of the dealers have dues to be paid to the auctioneers while the dealers have to get payments from their up-country buyers. Thus, the money problem has to be settled before the beginning of the next season, they said.

The total arrivals during the current season upto June 8 stood at 8,189 tonnes as against 9,507 tonnes on the same date last season while the sales in the current season were at 7,526 tonnes compared with 8,882 tonnes in the corresponding period last season. The weighted average stood at Rs 313.85 a kg as against 215.12 a kg as on June 14, 2006.

Prices of the graded varieties were at AGEB Rs 440-450, AGB Rs 380-390, AGS Rs 365-375 and AGS 1 Rs 325-335 a kg. Prices in the local market in Bodinayakannur were AGEB Rs 430-440, AGB Rs 360-370, AGS Rs 350- 360 and AGS 1 Rs 280-290. Bulk was being sold at Rs 340-430 a Kg.

Dry Spell

According to official sources the weather had not been favourable until few days back and if the Southwest monsoon picked up in the coming weeks there would be improvement in the crop. Harvesting would, therefore, depend solely on the behaviour of the current monsoon.

The delay in the arrival of the rains in the growing region is likely to take the first harvesting of the next season to late July or early August, they said. Besides, the loss of plants in non-irrigated areas due to the protracted dry spell this year would bring down the output also substantially, they pointed out.

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