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Small cardamom gained flavour over the past week as domestic demand overwhelmed squeezed supply at the auctions.
Arrivals were only 50 per cent of previous week due to Pongal holidays.
At last weekend auction, prices moved up by around ₹25-30 a kg and on Monday they were steady, Bodi market sources said.
The number of auctions has been increased to 12 a week from January 17 and henceforth, there will be no auctions on Sundays, which will be a holiday. The Spices Board has said two auctions, one in the forenoon and one in the afternoon, will be held six days a week. Six auctions will be held in Puttady, Idukki district of Kerala and six would be conducted in Bodinayakannur, Tamil Nadu.
The picking has entered the fifth round and the volume has started declining. The quality of the material has also diminished, trading sources in Bodinayakannur told BusinessLine .
Strong domestic demand coupled with good export buying has kept prices firm.
Last week, five auctions were held as markets were closed for Pongal holidays.
North Indian buyers continued to be active and there was good demand. Sources also said stockists are buying to replenish their inventories.
Exporters said to have bought an estimated 40 tonnes last week.
PC Punnoose, General Manager, KCPMC, said the continuous active participation of the upcountry dealers gives the impression that the basic demand continues to be strong.
He said the individual auction average last week was between ₹825 and ₹890 a kg.
Total arrivals last week decreased to 239.5 tonnes from 604 tonnes the previous week.
At the Saturday auction held by the Green House Cardamom Marketing India Limited, 46.7 tonnes arrived and the entire quantity was sold out. The maximum price was ₹1,072 a kg. The auction average stood at ₹882.37 a kg.
According to market sources, the late crop will be good and hence, the availability could be extend to the beginning of the next season.
So far, total arrivals this season are 11,612 tonnes against 12,563 tonnes during the same period a year ago. Sales are at 11,397 tonnes against 12,160 tonnes.
The individual auction average as on Saturday was ₹870 a kg against ₹550 last year.
Prices of graded varieties moved up last week and the prices in the open market on Monday in Bodinayakannur in rupees per kg were: 8mm bold ₹1,050 -1,200; 7- 8mm ₹980-1,000; 6mm-7mm ₹850-900; below 6 mm ₹750. Medium bulk was being traded at ₹850-900 a kg.
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