Comments
Cardamom prices continued to slip on slack demand in anticipation of an early crop following summer rains.
Consequently, prices declined despite a squeeze in the arrival at the auctions held.
The individual auction average prices, which were ruling above ₹800 a kg last week, has fallen to ₹740.60 last Saturday.
However, at the auction they improved marginally but failed to top ₹770.
Good summer showers for over a week in the growing areas coupled with reports of timely onset of South-West monsoon by June first week have changed the market sentiment, market sources in Bodinayakanur told Business Line .
Traders anticipate the crop to hit the market early by the last week of June.
Therefore, they have slowed down buying of the previous season's produce, they said.
This has pushed prices down by around ₹100 a kg in about a fortnight, PC Punnoose, General Manager, CPMC, told Business Line.
Exporters were not active and they reportedly bought limited quantity of about 20 tonnes last week, they said.
Trade sources in Kumily said that planters and sellers did not have material and whatever capsules arrived in the market were from small dealers.
Arrivals at auctions dropped to below 40 tonnes.
As Indian prices are ruling at higher , Guatemala which has been waiting for the Indian parity to rise still continued to offer at competitive levels in the world’s main consuming centres, West Asia and Gulf markets, trade sources said.
At the KCPMC auction, arrivals rose to 53.4 tonnes from 36 tonnes the previous Sunday and almost the entire quantity was sold out, Punnoose said.
The maximum price was at ₹1,033 a kg and the minimum was at ₹374. Auction average fell to ₹765.67 from ₹827 the previous Sunday, he said.
During the current season of the crop, arrivals stood at 19,973 tonnes against 13,320 tonnes as on May 25 during the last season.
Sales were 19,372 tonnes and 12,719 tonnes respectively. The weighted average price as on May 25 was ₹638.85 ( ₹717.47) a kg .
Prices of all graded varieties (₹/kg): AGEB 980-990; AGB 770-780; AGS 730-740 and AGS -1: 720-730.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.