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G.K. Nair

Kochi, Nov 10

The cardamom prices recovered on buying support at the auctions held in Kerala and Tamil Nadu last week.

The average price increased by Rs 33 a kg from Rs 501.64 a kg on November 2 to Rs 534.33 on November 9.

On Monday, at the Bodinayakannur auction, the average price slightly moved up to Rs 535.48 a kg. The total arrivals were at 17 tonnes. Maximum price was Rs 604 a kg and minimum Rs 426.50 a kg. There was no export buying.

Domestic buyers were active. It appears that the upcountry dealers have sold out what ever they bought for Diwali. They have reverted to the market now buying for their immediate requirements and to maintain a low inventory, as the commodity is not available from any other source, trading sources said.

In North India, December used to be a dry month for cardamom (small) sales because of the extreme winter spell. Normally, the market picks up from mid-January, according to Mr P.C. Punnoose, General Manager, CPMC, Kumily.

He said that the dealers are buying only to maintain an inventory to meet an immediate demand. According to him, the demand for 8 mm green bold capsules is good at present as there appears to be an apprehension that availability of this variety might decline in the coming weeks. Therefore, exporters are also said to have shown interest to buy. They might enter the market shortly, he said.

Price of 8 mm green bold has gone up to Rs 630-650 a kg from Rs 580-600 last month. Total arrivals on Sunday stood at 54 tonnes and almost all the entire quantity was sold out. Maximum price was at Rs 696 and minimum Rs 200 a kg.

Total arrivals during the current season is up to November 9 stood at 2,937 tonnes registering an increase of over 1,100 tonnes from 1,802 tonnes in the corresponding period last season. The sales also increased from 1,705 tonnes to 2,742 tonnes during the current season.

The weighted average price as on Nov 9, was Rs 586.49 as against Rs 412.06 a kg on the same day last year.

Prices of graded varieties were AGEB Rs 615-625; AGB Rs 535-545, AGS Rs 505-515 and AGS 1 Rs 475-480 a kg.

In the local market at Bodinayakannur, the prices were AGEB Rs 595-605; AGB Rs 515-525; AGS Rs 485-495; and AGS 1 Rs 455-465.

Current bulk was fetching Rs 455-465 a kg.

The growing areas have been experiencing dry weather and the growers say that there are indications of a couple of showers in the coming days.

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