The Hindu Business Line : Cardamom prices rule high on demand

The arrivals at the Cardamom Planters Association (CPA) auction at Bodinayakannur on Monday stood at five tonnes and almost the entire quantity was sold.

The average price stood at Rs 528.81 a kg, trading sources in Bodi told Business Line. Arrivals at the auctions held during last week ranged between 10 and 25 tonnes.

The average price at the KCPMC auction in Kumily on Sunday stood at Rs 597.94 a kg while at the MAS Enterprises’ auction on July 18, it was at Rs 615.74 a kg.

Arrivals at the Sunday auction stood at 25 tonnes. Maximum price fetched was Rs 677 a kg, while the minimum was Rs 449, Mr P.C. Punnoose, General Manager, KCPMC, told Business Line. He said the buyers, both export and domestic, were active.

Weather Woes

Upcountry buyers do not seem to be holding any stock. Besides, the unfavourable weather conditions prevailing so far during the South West Monsoon season appear to have created apprehensions of a poor crop later this year, he said.

Because of the extended summer shower this year the harvesting was started early and hence “we could commence the auctions from June 22, almost one month early,” he said.

But, surprisingly, unlike in the past, the hilly terrains growing cardamom in the state such as Idukki and Wayanad districts, the monsoon showers have been much deficient so far and it would have a negative impact on the crop.

“If we fail to receive normal rains in the coming weeks the harvesting of the current season might not go beyond December,” some of the growers pointed out.

Arrivals & Sales

Total arrivals during the current official season (from August 1 last to July 31 next) were at 5,599 tonnes as against 8,299 tonnes in the previous season.

The sales stood at 5,271 tonnes compared to 7,630 tonnes.

The short supply has pushed up the weighted average price during the current season to Rs 505.22 a kg as against Rs 314.88 a kg the previous season.

Ever since the beginning of the auction for the current season, the average price has been swinging between Rs 550 and Rs 615 a kg.

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