The Hindu Business Line : Cardamom prices rule steady

The individual average price ranged between Rs 692 and Rs 708 a kg despite moderately good arrivals. Full dealer participation was witnessed at the auction held on Sunday by the KCPMC at Vandanmettu even when the arrivals stood at 71 tonnes. They, all were actively buying.

Exporters bought 10 tonnes of cardamom, Mr P.C. Punnoose, General Manager, CPMC, told Business Line. Upcountry dealers are said to be not holding inventories and hence buying to meet the winter/ wedding season requirements in north India, he said. Exporters said to have bought about 40 tonnes during the week (last Monday to Sunday), traders said.

He said the difference between superior grades and the bulk has reduced and good bulk was fetching Rs 710–720 a kg while normal bulk arrivals Rs 670–680 a kg. “Now, the normal cardamom price is Rs 670–680 a kg and it is not available below this level”.

Heavy rains

Good buying is also attributed to apprehension that the arrivals may shrink after this month.

He said the growing areas in Idukki had been receiving heavy rains from last Tuesday and thus the weather conditions are favourable at present. However, if the incessant rains continued for long that would damage the plants on the other hand, growers pointed out.

Arrivals at the Monday (Nov 09) auction at Bodinayakkanur conducted by Cardamom Planters Association (CPA) stood at 34 tonnes. Maximum price was Rs 750.50 and minimum Rs 579 a kg. The average price was Rs 690.72.

At this auction, the prices are less as the quality of the cardamom used to be inferior, traders pointed out.

Total arrivals during the current season from August 1 to November 8 stood at 3,378 tonnes. Of this, 3,310 tonnes of cardamom were sold. Arrivals and sales in the same period last season were 2,882 tonnes and 2,689 tonnes, respectively.

Weighted average price for the current season as on Nov 8 was Rs 682.75 a kg, up from Rs 587.52 a kg for the previous season on the same date. Prices quoted for graded varieties were AGEB Rs 775-785; AGB Rs 730–740; AGS Rs 705–715; AGS1 Rs 680-695 a kg. Prices at the local market in Bodinayakannur were AGEB Rs 760–770; AGB Rs 710–720; AGS Rs 690–695; AGS1 Rs 670–680 a kg. Bulk was being at Rs 625–770 a kg.

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