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G.K. Nair

Kochi, Dec 29

Cardamom prices moved up marginally during the week at auctions held in Kerala and Tamil Nadu.

The market witnessed stability with the prices fluctuating marginally by Rs10-15 a kg. There was good buying support from upcountry buyers. Export buying was negligible during the week.

Total arrivals during the current season showed an increase of over 1,900 tonnes to 4,798 tonnes as on December 24 from 2,897 tonnes. Correspondingly, the sales also shot up to 4,501 tonnes from 2,713 tonnes during the previous season from August 1 to December 24, 2007. The weighted average price despite the squeeze in supply last year stood at Rs 449.91 where as, it increased in the current season to Rs 535.10 a kg.

The average price this year dwindled between Rs 500 and Rs 535 a kg.

Arrivals appeared to have declined during the week, which also contributed to the upward move in the prices. At the IDSMPCS auction on Saturday arrivals stood at 10.5 tonnes and the entire quantity was sold. The average price was Rs 452.71 a kg.

At the MAS auction on Friday, 23 tonnes of the material arrived and the entire quantity was sold. The maximum price stood at Rs 579.50 and minimum Rs 342 a kg. Average price was at Rs 447.55 a kg.

North Indian dealers were said to be actively covering to meet their immediate commitments as they are not holding any inventory. There appears to be a good demand from the domestic market as the availability from the only overseas source, Guatemala, is reportedly nil, market sources told Business Line.

The average prices of graded varieties as on December 24 were AGEB Rs 545-555; AGB Rs 455-465; AGS Rs 425-435 and AGS 1 Rs 400-410 a kg. Prices in the local Bodinayakannur market stood at AGEB Rs 525-535; AGB Rs 435- 445; AGS Rs 405-415 and AGS 1 Rs 380-390 a kg.

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