The Hindu Business Line : Cardamom arrivals top 10,000 tonnes

The total arrivals at the auctions as on Sunday stood at 10,070 tonnes and when the sales in Wayanad in Kerala and Karnataka centres are added, the total arrivals might cross 12,000 tonnes, trading sources in Bodinayakannur and Kumily told Business Line.

Monsoon impact

Meanwhile, if the current weak trend of south-west monsoon persists then it could impact the next cardamom crop.

The major growing areas in the country have not received sufficient rainfall for the required soil moisture. Last week, Idukki district in Kerala received good showers only.

“We need incessant heavy rains for a week as otherwise application of fertiliser would be difficult,” a grower in Kumily region told Business Line.

Average price

Average price at individual auctions ruled between Rs 680 and Rs 720 a kg last week.

At the Sunday auction by the KCPMC Kumily, held at Vandamettu, the average price ruled at Rs 710.66 a kg despite arrival of 40 tonnes.

The entire quantity was sold out. Maximum price fetched was Rs 824 and minimum Rs 352.50.

Auctions were held on Friday, Saturday, Sunday and Tuesday.

Total arrivals during the week were at 104 tonnes. KCPMC is said to be suspending its auction till July 12 and, thereafter, it might be resumed if there are arrivals of a minimum required volume of cardamom. Already auctions have been suspended by STCL, CPA and CPMC for want of sufficient arrivals.

Total arrivals during the same period a year ago were 5,200 tonnes. Total sales during the current season shot up to 9,488 tonnes from 54,916 tonnes.

The weighted average price went up to Rs 534.93 a kg from Rs 508.42 a kg a year ago.

Prices of graded varieties were AGEB Rs 810-820 a kg; AGB Rs 740-750 a kg; AGS Rs 710-720 a kg and AGS 1 Rs 665-675 a kg.

Prices in the local market at Bodinayakannur were AGEB Rs 790-810 a kg; AGB Rs 720-735 a kg; AGS Rs 685-705 a kg; AGS 1 Rs 645-655 a kg.

Bulk was sold at Rs 550-880 a kg.

There was no export buying probably because of the high prices.

However, good domestic buying was good despite prices ruling high. Dealers who are holding stocks appear to be liquidating at the prevailing prices.