The Hindu Business Line : Cardamom auctions begin; demand keeps buyers busy

Early rains in May have advanced the crop and fresh green capsules have started arriving in the market. At the first auction at Bodinayakannur, 3.5 tonnes of cardamom arrived while at Vandanmedu on July 8 it was nine tonnes. At Bodi on July 11, Nedumkandam on July 12 and Kumily on July 13, the arrivals were four tonnes, seven tonnes and 30 tonnes respectively. The total arrivals stood at 53. 5 tonnes, of which 51 tonnes were sold.

Buyers were active as there is demand from north Indian markets. The green bold capsules fetched Rs 10 more on Wednesday, auction sources at Kumily told Business Line.

Maximum price of the present bulk was Rs 470, while minimum was Rs 196 a kg. The average price at individual auctions ruled between Rs 241.84 and Rs 285.40 a kg.

Export buying was negligible with around four tonnes from the Kumily auction. Exporters were found to be inactive probably because of the high price, which, they claimed, made the commodity un-competitive in the overseas market with Guatemala cardamom.

Normally, for official accounting the cardamom season is from August to July.. However, this year, the favourable weather conditions that prevailed in the growing areas have advanced the crop and the season, Spices Board sources said.

Total arrivals as on July 14 stood at 5,180 tonnes including 53.5 tonnes of the current crop, and of which 4,833 tonnes were sold. During the same period last season the arrivals stood at 5,762 tonnes while the sales were at 5,351 tonnes. The over all weighted average price was 302.80 a kg as against 361.19 last season.

The prices of graded varieties as on July 9 were AGEB Rs 365 - Rs 375, AGB Rs 280 - Rs 290, AGS Rs 260 - Rs 270 and AGS 1 Rs 250 - Rs 260 a kg. The prices had moved up by around Rs 20 a kg in the subsequent auctions, market sources said.

The main cardamom belt in the country in Kerala's Idukki and Wayand districts is receiving good southwest monsoon this year and if the favourable weather prevails the crop would be good taking the total production to last year's level of around 9,000 tonnes in Kerala. The crop in Karnataka is estimated at around 2,000 tonnes, trading sources said.

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Cardamom auctions begin; demand keeps buyers busy