The Hindu Business Line : Cardamom prices fail to improve

CARDAMOM prices failed to improve despite decline in arrivals for want of sufficient buying support at auctions held in Kerala and Tamil Nadu during the week.

The up-country dealers apprehending a further fall in prices were buying to meet their immediate requirement. Besides, arrival of cardamom from Guatemala has also kept the domestic buyers away. Rumours are making rounds that good quantity of Guatemala cardamom has arrived in the North Indian markets and even in Bodinayakannur, Tamil Nadu, a major trading centre of cardamom.

Meanwhile, some exporters bought eight tonne during the week. Exports in January is estimated at around 50 tonnes, despite the availability of airfreight assistance of Rs 45 a kg. This facility has been extended up to February 28 for exports. One of the reasons pointed out for fall in exports is the non-availability of bold capsules. The growers, export sources told Business Line, were not releasing superior grade cardamom because of low prices. Major growers are said to be holding the produce. During the current season up to February 3, 3,264 tonne were sold out of total arrivals of 3,521 tonne. In the same period last season, arrivals stood at 3,661 tonne and sales at 3,354 tonne. The weighted average price during the current season was Rs 305.04 a kg (Rs 374.45). The prices of the graded varieties were AGEB Rs 435 - Rs 445, AGB Rs 340 - Rs 345, Rs 325 - Rs 330 and AGS 1 Rs 290 - Rs 300 a kg.

The total production is estimated at little over 10,000 tonne this year despite severe drought during the summer in 2004. The loss has been made up by sufficient rains during the monsoon season, they added.

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