The Hindu Business Line : Cardamom moves up on good demand

As the harvesting has almost come to an end, the domestic buyers were seen actively buying to stock for the off-season, market sources said. However, exporters were inactive.

Arrivals at the auctions during the current season showed a decline of 1,198 tonnes to 7,923 tonnes as on May 23, while the sales fell by 1,241 tonnes to 7,277 tonnes from 8,518 tonnes.

The weighted average price increased to Rs 312.70 from Rs 215.07 a kg.

The substantial drop in supply coupled with reported good retail sales in the up-country markets appears to have pushed up demand, trading sources told Business Line.

Average Price

Arrivals at Wednesday's auction held in Kumily by Cardamom Processing and Marketing Company (CPMC) stood at 56.5 tonnes and the entire quantity was sold out.

Much of the arrivals were from the stocks held by major growers and traders, they said.

Compared with the auction on previous Wednesday, the prices moved up by Rs 15-20 kg, Mr P.C. Punnoose, General Manager, CPMC, said.

The maximum price stood at Rs 527 a kg while the minimum was Rs 217 a kg. The average price was Rs 371.07.

The 8 mm bold fetched Rs 450-Rs 475 while 7.5 mm and 7 mm were sold at Rs 425-Rs 450 and Rs 410-Rs 425 a kg respectively.

Current bulk was fetching Rs 380-Rs 385 a kg, he said.

The individual auction average price showed an upward swing during the week.

Prices of the graded varieties as on May 19 were AGEB Rs 450-Rs 460, AGB Rs 390-Rs 400, AGS Rs 370-Rs 380 and AGS 1 Rs 325-Rs 335 a kg.

The prices for these varieties in the local market Bodinayakannur were AGEB Rs 440-Rs 450, AGB Rs 370-Rs 380, AGS Rs 360-Rs 370 and AGS 1 Rs 300-Rs 320 a kg. Current bulk was fetching Rs 350-Rs 450 a kg.

For want of adequate arrivals three centres suspended auction during the week.

While other auctioneers are likely to suspend auctions from May 30 till the beginning of the next season probably by early August because of the un-economical arrivals.

The cardamom-growing belt continues to remain dry and the rains have so far eluded this region, growers said. The negative impact of unfavourable weather conditions continued to persist and that in turn would affect the next crop, they added.

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