The Hindu Business Line : Uptrend in cardamom prices on good demand

Kochi, Sept. 1 Cardamom prices last week witnessed an upward trend on increased demand with the average prices swinging between Rs 590 a kg and Rs 610 a kg.

Following the withdrawal of strike by the plantation workers, picking had begun from Monday and the capsules after processing and drying started arriving at the auctions from Friday onwards.

There were moderate arrivals at the auctions held after mid-week, market sources told Business Line. Compared with last season the arrivals during these weeks are expected to be good because of the extended summer showers this year.

At the CPA auction at Bodinayakannur on Monday, the arrivals stood at nine tonnes and the buyers appeared to be active.

On Sunday, 27.5 tonnes of the commodity arrived at the auction held by the KCPMC, Kumily, and the entire quantity was sold out. Maximum price was at Rs 814.50 a kg and the minimum Rs 300.50 a kg. Average price was Rs 602 a kg.

In fact, contrary to expectations the buyers, both domestic and export, were active, and on Sunday the latter bought 6.5 tonnes of cardamom. The demand from both overseas and domestic markets is likely to pick up after Ganesh Chathurthi on Wednesday for the festivals such as Diwali and Ramzan, said Mr P.C. Punnoose, General Manager, CPMC, Kumily.

The auctions of the Heddar Systems and South Indian Green Cardamom Company, floated recently at Vandanmettu, would be held temporarily at Bodinayakannur on Tuesday. They hold their auctions at Vandanmettu on Tuesdays, official sources said.

According to the growers, the present weather conditions are good and the growing areas are receiving heavy incessant rains for the past few days leading to cloud-bursts in Kerala’s Idukki district inflicting losses.

However, from the characteristics of the current rains like that of the northeast monsoon, the growers fear that the north-east monsoon has been advanced. In that case, they apprehend that there might not be rains in October and November, and that would result in a long dry spell till the summer showers and the next southwest monsoon.