Cardamom gained a little on demand from other States even as arrivals increased because of an early crop at auctions held in Kerala and Tamil Nadu.

Most of the 19 tonnes that arrived at Cardamom Planters' Association's auction in Bodinayakannur on Monday was sold, and the maximum price fetched was Rs 770 a kg. Poor quality of the produce pulled down the auction average to Rs 677.18 a kg, below the Sunday auction's average.

Arrivals zoomed to 70 tonnes compared to 20 tonnes year-on-year at the auction on Sunday at Kerala Cardamom Processing And Marketing Company Ltd (KCPMC), Mr P.C. Punnoose, General Manager, KCPMC, told Business Line .

Good supplies

While exporters bought an estimated 100 tonnes of good capsules, or pods of cardamom, in Kumily and Bodinayakannur, up-country buyers covered for the ensuing festival season, traders said.

However, picking is in full swing and given favourable weather so far this year, the crop, they said, is expected to be “very good”.

Though arrivals so far indicate good supplies compared to the year-ago period, demand, too, has grown correspondingly of late.

At the Sunday auction conducted by KCPMC, arrivals stood at 70 tonnes, all of which was sold, as against 60 tonnes last Sunday. The maximum price fetched was Rs 1,037.50 a kg and the minimum Rs 533.50 a kg. Individual auction average moved up to Rs 693 a kg from Rs 690.60 a kg, Mr Punnoose said.

Three-fourths of the arrivals at the auctions held last week were new crop, and the rest from the previous crop.

Eight-millimetre bold good-colour fetched Rs 1,050-1,100 a kg Monday in Bodinayakannur, trade sources said.

Arrivals during the current season from August 1 to July 24 stood at 12,973 tonnes. Of this, 12,658 tonnes were sold.

Arrivals and sales in the same period of the previous season were at 9,803 tonnes and 9,597 tonnes.

Weighted average price as on July 24 was Rs 977.27 per kg, as against Rs 875.20 a kg on the same day past year.

Prices were up at Kumily and Bodinayakannur on Monday. Prices for graded varieties in Kumily (in Rs a kg) were as follows: AGEB Rs 975-985; AGB 755-765; AGS 725-735; and AGS-1 675-685.

Prices in the open market at Bodinayakannur (in Rs a kg) were as follows: AGEB (7 mm) 960-970; AGB (6 mm) 735-745; AGS (5 mm-6 mm) 700-710 and AGS-1 660-670.

Good bulk sold at Rs 720-750 a kg in Bodinayakannur.

Growing areas received good rains last week with the sky clearing occasionally. Growers in Kumily said weather was favourable for the crop so far.

Related Topics
comment COMMENT NOW