The Hindu Business Line : Cardamom prices gain on short supply

Kochi, Aug. 16 Cardamom prices maintained its upward swing on short supply during the week at auctions held in Kerala and Tamil Nadu. Arrivals continued to remain much less than that of the corresponding period last year. Because of the protracted drought this year followed by heavy rains and strong winds during the belated southwest monsoon, the crop has been poor apart from being late. The yield in non-irrigated plantations comprising of about 60 per cent of the total area in Kerala’s Idukki distrct, is said to be less.

Growing demand

At the auction on Thursday, in Kumily, conducted by the Cardamom Processing and Marketing Company (CPMC) the arrivals stood at 28.5 tonnes and the entire quantity was sold. The prices increased by Rs 25 a kg from the previous week, Mr P.C. Punnoose, General Manager, CPMC, told Business Line.

Arrivals may pick up

As the crop is late, the arrivals would pick up only by mid-September besides, being less the prices are likely to move up given the expected good demand, he said.

Mr Punnoose said the indications are that the overall productivity this season would be down by more than 30 per cent from that of the last season.

The maximum price on Thursday was Rs 585 a kg; 8 mm bold with good colour was fetching Rs 550–555 a kg, while 7 mm–8 mm Rs 480–Rs 500 a kg; 6 mm and below was sold at Rs 370–380 a kg. Current bulk was being sold at Rs 440-450 a kg.

Prices at the auction on Tuesday at Nedumkandam conducted by the Header Systems also improved from that of its previous auction.