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G.K.Nair

Kochi April 13 Cardamom prices continued to rule steady during the week at the auctions held in Kerala and Tamil Nadu on declining supply position and good buying support.

Export buying has slowed down due to drop in the arrival of fresh green capsules.

As the harvesting has almost come to a close, the current arrivals of exportable varieties are from the stock held by growers/dealers, market sources told Business Line.

Yet, exporters bought about five tonnes on Wednesday during the auction held at Kumily by the Cardamom Processing and Marketing Company (CPMC). However, domestic buyers were also active.

Arrivals at CPMC dropped by nine tonnes to 46 tonnes compared to the previous auction. Of this, 45 tonnes were sold out. The maximum price obtained was Rs 510 a kg.

The price of 8 mm bold, depending on good colour, was Rs 480-500. The 7.5 mm and 7 mm varieties were being sold at Rs 450-480 and Rs 425-450, respectively. Current bulk was fetching Rs 370-380.

According to Mr P.C. Punnoose, General Manager of CPMC, there were widespread rains on Tuesday last in the cardamom belt, which changed the sentiments of both growers and buyers.

Individual average price at various auctions continued to rule above Rs 350.

At the CPA auction held in Bodinayakannur on April 9, the average price stood at Rs 367.18.

At the Nedumkandam auction by Header Systems on April 10, the average price was Rs 360.18; at Kumily on April 11, it was Rs 369.80.

Total arrivals during the current season up to April 11 stood at 7,054 tonnes, against 8,182 tonnes in the corresponding previous period.

Sales stood at 6,493 tonnes (7,642 tonnes).

The weighted average price as on April 11 was Rs 306.37 (Rs 216.67).

The prices of graded varieties were: AGEB Rs 470-480, AGB Rs 380-390, AGS Rs 365-375 and AGS 1 Rs 330-340.

Prices in the open market at Bodinayakannur were: AGEB Rs 460-470, AGB Rs 370-380, AGS Rs 350-370 and AGS 1 Rs 320-330.

Current bulk was fetching Rs 320-330.

The recent rains in the high ranges brought some respite to the plants, which were almost dried up during the protracted dry spell, growers said.

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