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Cardamom prices have shown a firmer trend since Tuesday with the auction average crossing ₹1,000 a kg again on good demand amid tight supply.
At Thursday’s auction by the Kerala Cardamom Processing and Marketing Company Limited, Thekkady, a total of 23.5 tonnes of the spice arrived and the entire quantity was traded.
The auction average price here increased to ₹1,019.13 a kg from ₹928.80 last Thursday. The maximum price stood at ₹1,260/kg.
In the Cardamom Processing & Marketing Co-Operative Society’s sale, arrivals stood at 33.92 tonnes and almost the entire quantity was traded.
The average price here also rose to ₹1,010 from ₹926.04 a kg the previous Thursday.
The average price was at ₹1,239.
At the Tuesday morning auction by the South Indian Green Cardamom Company Ltd, Kochi, the average price soared by around ₹106 a kg to ₹1,029.38 from ₹923.23 the previous Tuesday.
A bullish sentiment has surfaced following reports of a sharp fall in output of the crop during the current season, trade sources said.
Added to this, inventories in the upcountry markets have reportedly been exhausted, resulting in fresh buying to replenish stocks to meet the Diwali demand.
This demand has also played a part in the upward price movement, PC Punnoose, General Manager, Cardamom Processing & Marketing Co-Operative Society, told BusinessLine.
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