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G. K. Nair

Kochi, Nov. 3 Cardamom prices after Diwali sales have shown a declining trend at auctions held in Kerala and Tamil Nadu on heavy arrivals with peak harvesting time of the current season on.

At the CPA auction held in Bodinayakannur on Monday, the individual average price fell to Rs 499.69 a kg. Out of the total arrivals of 19 tonnes, 1.5 tonnes of the commodity were withdrawn and the rest was sold out. Maximum price stood at Rs 552 and the minimum Rs 426 a kg. There no export buying as exporters are said to be waiting for the prices to decline further.

Last week auctions were held only on Wednesday, Friday and Saturday on account of Diwali holidays. The average price at the KCPMC auction on Sunday dropped by Rs 20 a kg to Rs 520 from Rs 540 at last Wednesday’s auction held by the CPMC Kumily. On Sunday, the arrivals stood at 58.25 tonnes of which 1.10 tonnes of cardamom were withdrawn. The maximum price was Rs 601 and minimum Rs 380 a kg, Mr P.C. Punnoose, General Manager, CPMC, told Business Line.

As almost 50 per cent of the arrivals were of 8mm bold its price was ruling at around Rs 600 a kg. The current bulk was fetching Rs 520-540 a kg.

Because of the heavy arrivals trading is taking place at buyers’ price and they are trying to depress the market. However, if the upcountry dealers had sold out all their Diwali purchases then they will have to be back in the market, trading sources claimed. In that case, the price is likely stabilise somewhere between Rs 550 and Rs 600 a kg, they said.

Total arrivals during the current season as on November 2 stood at 2,680 tonnes against 1,673 tonnes, an increase of around 1,000 tonnes of the commodity.

The quantity sold during this period was 2,489 tonnes against 1,581 tonnes in the last season as on November 2, 2007.

Prices of the graded varieties were AGEB Rs 610–Rs 620; AGB Rs 530–Rs 540, AGS Rs 500–Rs 510 and AGS 1 Rs 475–Rs 480 a kg.

Prices in the local market at Bodi were AGEB Rs 590–Rs 600; AGB Rs 510–Rs 520; AGS Rs 480–Rs 490 and AGS 1 Rs 450– Rs 460 a kg. Bulk was being sold at Rs 560–Rs 620 a kg.

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