The Hindu Business Line : Cardamom prices gain on buying

Kochi, Sept. 27 Cardamom prices continued their upward swing at the auctions held in Kerala and Tamil Nadu during the week on good buying support and short supply.

Buyers from North India were active at all the auctions covering for the ensuing Ramzan and Diwali festivals, trading sources said.

The late crop this year was reflected on the arrivals so far, which remained almost half of the quantity compared to the corresponding period last season.

As on September 26, the total arrivals from August 1 stood at 765 tonnes as against 1,394 tonnes in the same period last year. Similarly, the sales were at 722 tonnes compared with 1,239 tonnes. The weighted average prices increased to Rs 408.01 a kg from Rs 354.52 a kg.

The prices of graded varieties were AGEB Rs 495-505, AGB Rs 390-400, AGS Rs 370-380 and AGS 1 Rs 355-365 a kg. Prices in local market at Bodinayakannur were AGEB Rs 480-490, AGB Rs 370-380, AGS Rs 355-365 and AGS 1 Rs 340-350. Bulk was being sold at Rs 470-500 a kg.

Arrivals at the e-auction on Thursday conducted by STCL in Bodinayakannur stood at 15 tonnes and almost the entire quantity was sold. The prices are said to have shown a marginal increase.

At the Wednesday’s auction conducted by Cardamom Processing and Marketing Company (CPMC) at Kumily, the arrivals stood at 44 tonnes and the entire quantity was sold out, Mr P.C. Punnoose, General Manager, CPMC, told Business Line. He said that the entire lots were of the new crop.

Prices moved up by Rs 25 to Rs 30 a kg. Capsules of 8mm bold with good colour fetched Rs 550-570 a kg while 7.5mm to 8mm was being sold at Rs 475-500 a kg. Current bulk fetched Rs 430-440 a kg. The average price stood at Rs 419.98 a kg.