Cardamom prices moved up on good demand which marginally outstripped supply at auctions. All the participants covered actively and at Sunday’s auction, 55 dealers participated, market sources told Business Line.

Contrary to expectations of good arrivals initially in the first round of harvesting, supply has not picked up so far and that, in turn, is pushing up prices.

Exporters are also buying whatever exportable quality material arrives in the market. An estimated two tonnes of capsules have been bought by them. Buying for the Ramzan appears to have been over.

Onset of monsoon in other parts of the country, especially in the northern states is expected to push up the demand.

At the Kerala Cardamom Processing and Marketing Company auction, 37 tonnes arrived against 40 tonnes the previous Sunday. The entire quantity was sold out. The maximum price was at ₹1,073 a kg and the minimum at ₹512 a kg. The auction average moved up to ₹787 from ₹769.21 the previous Sunday, PC Punnoose, General Manager, KCPMC, told Business Line.

During the current season of the crop, arrivals stood at 21,541 tonnes against 15,962 tonnes as on July 20 during the last season. The sales were at 20,894 tonnes and15,309 tonnes respectively.

The weighted average price as on July 20 stood at ₹647.80 ( ₹691.77).

Prices of all graded varieties (₹/kg): AGEB 975-985; AGB 800-810; AGS 770-780 and AGS -1:750-760.

Related Topics
comment COMMENT NOW