Cardamom prices ruled steady last week as demand matched supply at auctions.

Arrivals were probably the highest for the current season and yet, prices ruled steady on account of strong demand. Major buyers from upcountry market centres were actively covering and this gave the impression that the pipelines in the retail markets are empty following good Diwali sales, market sources told Business Line .

Exporters have slowed buying on the assumption that their active entry might push up prices further. Besides, prevailing prices, according to them, were on the higher side. Exporters are said to have bought an estimated 30-40 tonnes of exportable variety.

So far, prices during the current season have been on higher compared with same period a year ago.

At the Sunday auction held by the Kerala Cardamom Processing and Marketing Company, arrivals were 120.7 tonnes against 113 tonnes the previous week. The entire quantity was sold out. The maximum price was ₹1,021 a kg and the minimum ₹544. The auction average was nearly steady at ₹738.47.

The individual auction average price remained nearly unchanged and vacillated between ₹725 and ₹765 a kg. Supply of 8mm bold continued to remain thin and good colour bold capsules were fetching ₹950-1,000.

Total arrivals during the season stood at 4,518 tonnes (5,507 tonnes). The sales were at 4,434 tonnes and 5,283 tonnes respectively.

The individual auction average as on October 19 was at around ₹730 (₹586) a kg.

Prices of graded varieties (₹/kg): 8mm bold 950-1,000; 7mm-8mm 825; 6mm-7mm 725-735; below 6 mm 650-660.

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