Cardamom prices recovered last week after a month-long sluggishness on good domestic and export buying at auctions held in Kerala and Tamil Nadu.

North Indian dealers were actively covering. Similarly, exporters were also buying and estimated 15 tonnes of cardamom were bought by them, trade sources said.

sunday auction

The market sentiment has changed and demand started pouring in from Wednesday last onwards, which in turn helped the prices to improve, they said.

The individual auction average price crossed Rs 1,000 a kg on Wednesday and Thursday last and on Sunday, it ended nearly at Rs 1,000 a kg.

Arrivals at the Sunday auction conducted by the Kerala Cardamom Processing and Marketing Company stood at 56 tonnes and the entire quantity was sold out.

“The rise in arrivals was due to the coming holidays in connection with the Assembly elections on April 13 and Tamil New Year day on April 14,” Mr P.C. Punnoose, General Manager, Cardamom Processing and Marketing Company, told Business Line .

The maximum price on Sunday stood at 1.274 a kg and the minimum was at Rs 712 a kg. The average was at Rs 997.40 a kg.

The sellers are anticipating that the average price would stabilise at Rs 1,000 a kg and it might sustain at this level which some consider as moderate trade sources in Bodinayakannur claimed.

Arrivals, sales

Total arrivals during the current season from August 1 to April 10, 2011, stood at 8,638 tonnes. Of this, 8,427 tonnes were sold.

Arrivals and sales in the same period of the previous season were 8,640 tonnes and 8,450 tonnes, respectively.

Weighted average price as on April 10, 2011, was Rs 1,099.20 a kg, up from Rs 808.60 a kg same day last year.

Prices for graded varieties in rupees per kg according to the official sources in Kumily on Monday were: AGEB 1,245 –1,255; AGB 1,135–1,145; AGS 1,120–1,130 and AGS1 1,095–1,105.

Prices according to the trade sources in the open market in Bodinayakannur in rupees per kg were: AGEB (7mm – 8 mm) 1,060 –1,110; AGB (6mm – 7 mm) 1,005- 1,015; AGS (5mm – 6mm) 975-990 and AGS 1 – 950– 960.

Good bulk was being sold at Rs 1,010-Rs 1,050, while medium was fetching Rs 980-Rs 1,000 a kg, trade sources in Bodi said. The growing areas experienced dry spell last week and the temperature was ruling at higher levels. However, the growers are expecting summer showers in the coming days.

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