The Hindu Business Line : Cardamom prices fluctuate; arrivals thin

The current season has almost come to an end. As no harvesting is taking place, the arrivals have fallen significantly, market sources told Business Line.

"End of the season coupled with thin arrivals might result in the auctioneers suspending auctions till the beginning of next season expected by end-July/early August 2007," they said.

The individual auction average prices showed an upward swing from Rs 332.01 on May 11 to Rs 361.39 on May 15.

However, it declined to Rs 354.09 on May 16.

Increase in price

Arrivals at the main auction held by Cardamom Processing and Marketing company (CPMC) at Kumily on Wednesday stood at 29 tonnes and the entire quantity was sold out.

There was no export buying.

But, up-country buyers were active. Compared to previous Wednesday, the prices have shown an increase of Rs 25 a kg, Mr P.C. Punnoose, General Manager, CPMC told Business Line.

Eight-mm bold capsules fetched the maximum price of Rs 476 a kg while the minimum was Rs 231 a kg.

Eight-mm bold was fetching Rs 450-Rs 480 while 7.5 mm and 7 mm was sold at Rs 425-Rs 450 and Rs 390-Rs 410 a kg, respectively. Bulk was fetching Rs 380-Rs 390.

Total arrivals during the current season up to May 16 fell to 7,806 tonnes from 8,976 tonnes during the same period the previous season.

Sales also fell to 7,167 tonnes from 8,379 tonnes. However, weighted average price moved up to Rs 311.60 a kg from Rs 215.03 a kg last season.Prices of the graded varieties as on May 12 were AGEB Rs 440-Rs 450, AGB Rs 375-Rs 385, AGS Rs 355-Rs 365 and AGS 1 Rs 310-Rs 320 a kg.

Prices in the local market in Bodinayakannur on May 16 were AGEB Rs 430-Rs 440, AGB Rs 360-Rs 370, AGS Rs 340-Rs 350 and AGS 1 Rs 300-Rs 310. Bulk was fetching Rs 340-Rs 425 a kg.

After the summer rains during the first fortnight of April, the cardamom growing regions have not received any showers. As a result, the plants in certain areas, which dried up in the long dry spell, would require replanting while the growth of the live plants are likely to be weak. Given this situation the next crop would be definitely less than that of the current season, growers claimed.

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