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G K Nair

Kochi, Sept 9 Cardamom prices ruled steady at the auctions held in Tamil Nadu and Kerala last week and on Monday on good buying support from upcountry dealers.

The individual average price at the auctions swung between Rs 598 and Rs 624 a kg during the week.

The arrivals so far during the official season have also picked up and showed an increase compared to that of the previous season.

At the auction in Bodinayakannur on Monday, arrivals stood at 12 tonnes and almost the entire quantity was sold out.

The maximum price fetched was Rs 739.50 a kg and the minimum Rs 409.64 a kg. Average price remained at Rs 581.40 a kg. The quality of the material was said to be slightly inferior.

Meanwhile, at the auction conducted by the KCPMC Kumily at Vandanmettu on Sunday, the arrival surged to 42.4 tonnes. Almost the entire quantity was sold. Maximum price was Rs 817 a kg while minimum was Rs 480 a kg. Average price stood at 602.30 a kg.

As the prices consistently ruled high, exporters were not active during the week.

The prices are likely to remain steady at these levels or even may move up in the coming weeks as there is not much inventory with the up-country dealers on the one hand and the festivals such as Navarathri, Ramzan and Diwali next month on the other, Mr P.C. Punnoose, General Manager, CPMC, predicted.

According to him, the peak time of harvesting and arrivals is from August to October. “This year, because of the late rains in the growing regions, the peak period might be extended further.”

The highest average price during last week of Rs 623.97 a kg was fetched at the auction held by South Indian Green Cardamom Company (SIGCC) on last Thursday at Bodinayakannur.

The maximum price was also at higher level at Rs 847 a kg and minimum Rs 491 a kg.

Total arrivals stood at 32 kg and the entire quantity was sold out. Exporters also bought 3.5 tonnes because of the high quality of the capsules, Mr S. Jeevanandan, Director, SIGCC, told Business Line.

He said the company had achieved the highest average of Rs 646.7 a kg a couple of weeks ago and its average price remained above Rs 600 at all of its 15 auctions, but for four , which were below Rs 600 a kg, it had held ever since its entry in to the field.

Total arrivals during the current season from August 1 to September 7 stood at 889 tonnes as against 435 tonnes in the same period the previous auction.

Similarly, sales were at 821 tonnes compared to 414 tonnes.

Weighted average stood at Rs 594.81 as against Rs 409.64 a kg. There has been a good early crop because of the extended summer showers.

Prices of graded varieties as on September 6 were AGEB Rs 690-700, AGB Rs 610-620, AGS Rs 580-590, AGS 1 Rs 540-550 a kg.

Prices in the open market at Bodinayakannur were at Rs AGEB Rs 675-685, AGB Rs 605-610, AGS Rs 560-570, AGS 1 Rs 530-540 and bulk was fetching Rs 650-800 a kg.

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