The Hindu Business Line : Cardamom prices drop

The average price was Rs 595 a kg at last Wednesday’s auction conducted by the CPMC, Kumily and the total decline was to the tune of Rs 60 a kg during the week till Saturday. However, on Sunday, it moved up by Rs 30 a kg in the auction held by the KCPMC, according to Mr P.C. Punnoose, General Manager, CPMC. In fact, after Diwali the average price has been ruling above Rs 500 a kg.

Thin arrivals

There appears to be a slowdown in retail sales in the upcountry markets. Besides, purchases for Holi have not yet started giving the impression that the dealers are having some stocks in their inventory, he said. On other hand, arrivals at the auctions were very thin at single-digit figures and that in turn might be dissuading most of the traders from attending the auctions, he said.

Arrivals on Friday and Saturday were nine tonnes and six tonnes respectively. Out of nine tonnes, eight tonnes were sold, while of the six tonnes, three tonnes were withdrawn.

However, at the Sunday auction the arrivals stood at 23.5 tonnes and almost the entire quantity was sold out. The maximum price was Rs 649.50 and the minimum Rs 444 a kg. The average price moved up to Rs 656 a kg from Rs 535 on last Saturday, he said.

Picking has almost come to an end and what ever quantity arrives at the auctions, at present, is that released by the growers who are holding stocks.

Total arrivals during the current season up to February 28 stood at 3,866 tonnes compared to 6,126 tonnes in the same period last year. Similarly, sales have also dropped to 3,600 tonnes (5,631 tonnes). Weighted average price was at Rs 302.14 (Rs 487.15 a kg).

Prices of the graded varieties as on March 1 were AGEB Rs 675 – Rs 685, AGB Rs 600 – Rs 610, AGS Rs 575 – Rs 585 and AGS 1 Rs 555 – Rs 565 a kg.

The weather conditions so far during the current season were favourable and indications are that the growing area might get some summer showers in the coming days, trading sources said.

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