Financial Daily from THE HINDU group of publications
Thursday, Mar 17, 2005
Financial Daily from THE HINDU group of publications Thursday, Mar 17, 2005 |
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Agri-Biz & Commodities
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Spices & Condiments Sharp decline in cardamom arrivals G.K. Nair
Kochi , March 16 CARDAMOM arrivals have declined sharply at the auctions in Kerala and Tamil Nadu as the harvesting has almost come to an end. The arrivals at the major auction centre, Kumily (Kerala), on Wednesday stood at only 15 tonnes and the entire quantity was sold out. Probably because of thin supply, domestic buyers were active. The prices, as a result, had gone up by Rs 20 a kg, Mr P.C. Punnoose, General Manager of the Auctioneers, Cardamom Processing and Marketing Company (CPMC), told Business Line. He said harvesting was over and hardly 5 per cent of the plantations might have some crop. There were enquiries from upcountry markets and, hence, buyers were active. 7 mm bold fetched Rs 401 to Rs 410 a kg, while current bulk was sold at Rs 290 to Rs 300 a kg. Average price on Wednesday was Rs 315 a kg, he said. Export buying was insignificant with around 2.5 tonnes, he said. Current arrivals at the auction centres comprised the stock held by the farmers, market sources pointed out. Meanwhile, trading sources in Bodinayakannur said there was no enthusiasm among the dealersThey attributed this phenomenon to the poor demand from North Indian markets. According to them, cardamom imported from Guatemala is abundantly available in the upcountry markets Rs 20-30 lower. Added to this, the uncertainty prevailing here on the Valued Added Tax appears to have dissuaded the traders to buy and stock. Certain auctioneers are even planning to suspend their auctions in the coming days due to thin arrivals and weak demand, the sources said. The total arrivals at the auctions during the current season up to March 14 are estimated at around 4,100 tonnes and sales at 3,900 tonnes and the weighted average price was at Rs 305 a kg. According to trading sources, an estimated 2,000 tonne of the produce is held by big growers and an equal quantity might have gone through direct sales. Prices of the graded varieties were AGEB Rs 425-435, AGB Rs 315-325, AGS Rs 295-305 and AGS1 Rs 270-280 a kg. Though there have been isolated rains in Kerala, the cardamom tract has not received any showers in recent weeks, which has affected the crop. Had there been some intermittent showers the harvesting would have continued for some more weeks, planters said.
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