Buying support from North

G.K. Nair

Kochi, Nov 16

Demand for cardamom from North India, especially Delhi, has started picking up slowly and it was evident from the Wednesday auction by the Cardamom Processing Marketing Company (CPMC) at Kumily where prices moved up by Rs 35 a kg.

The total arrival of 57 tonnes was sold out, Mr P.C. Punnoose, General Manager of CPMC, told

Business Line

.

Meanwhile, there was no export buying. For over a month, export buying has been of negligible quantity.

According to market sources at Bodinayakannur, Indian prices are said to be higher and hence, overseas buyers are not showing any interest.

Besides, the sources attributed the lack of interest to decline in demand from Japan following the reported decision of the Japanese authorities to be vigilant on the presence of chemical residues.

However, when contacted, Spices Board sources said there was no such intimation from Japan.

At the Kumily auction, the maximum price was Rs 467 a kg for 8 mm bold, while 7.5 mm fetched Rs 350 and 7 mm Rs 280-310. Current bulk was being sold at Rs 250-265.

Total arrivals as on November 15 was 2,739 tonnes, of which 2,441 tonnes were sold and the weighted average was Rs 321.18 a kg.

Against this, arrivals and sales during the same period last year stood at 3,532 tonnes and 3,302 tonnes respectively. The weighted average was Rs 231.98.

The prices of graded varieties were: AGEB Rs 370-380, AGB Rs 275-285, AGS Rs 255-265 and AGS 1 Rs 220-230.

The prices in the local market at Bodinayakannur were: AGEB Rs 350-360, AGB Rs 260-270, AGS Rs 245-255 and AGS 1 Rs 210-220; bulk was being sold at Rs 300-310.

The weather conditions in the growing areas both in Kerala and Tamil Nadu continue to be ideal for the crop.

(This article was published in the Business Line print edition dated November 17, 2006)
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