The Hindu Business Line : Cardamom rules steady

Arrivals were moderate and the buying activities were good. On Wednesday, at the auction at Cardamom Processing Marketing Company Ltd (CPMC) Kumily 40 tonnes were sold from the total arrivals of 43.5 tonnes at an average price of Rs 347.69 per kg. While on January 22, at Bodinayakannur, 12 tonnes were sold from the arrivals of 15 tonnes at an average price of Rs 322.37, registering a drop of around Rs 25 per kg.

However, at the last auction on January 12 before the beginning of the holidays, at the Cardamom Planters Association (CPA), Bodinayakannur, the average price was Rs 294.86 per kg.

In fact, besides the Pongal festivals, the auctioneers had suspended the auctions for a week hoping that there would be some tangible improvement in the prices after the vacation. However, it did not improve, they said.

Upcountry buyers as well as exporters were active in trading in Kerala and Tamil Nadu. Variation in the prices used to be between Rs 10 to 30 per kg so far during the current season and this has led to stability in the market, trading sources told Business Line.

As the prices were competitive without any wild fluctuation both the upcountry buyers and exporters had been buying almost all through the season, they said. Exports in December, according to official sources, are estimated at 100 tonnes and it is likely to be around 80 tonnes this month.

The prices of graded varieties were AGEB Rs 450 - Rs 470, AGB Rs 380 - Rs 400, AGS Rs 320 - Rs 350 and AGS 1 Rs 300 to Rs 310 per kg.

Availability of superior grade 8 mm bold was virtually nil, trading sources in the Bodinayakannur told Business Line. They said major growers were holding back this variety anticipating increase in price. Traders had to satisfy with 7.5 mm capsules which was available at Rs 480 - Rs 500 per kg. Bulk prices there were Rs 320 - Rs 350 per kg, they said.

During the current season up to January 22, the cardamom arrivals stood at 3,351 tonnes and from which 3,062 tonnes were sold. The weighted average price was Rs 347.69 per kg. Whereas during the corresponding period last season from the total arrival of 2,567 tonnes, 2,280 tonnes of cardamom were sold and the weighted average price was Rs 602.58 per kg.