Cardamom prices ruled steady last week on demand nearlh match supply at auctions.
Individual auction average oscillated between Rs 600 and Rs 620 a kg.
Upcountry buyers were covering to meet the festival season demand in North India, while exporters bought small quantities as current prices are said to be viable for them, trade sources said.
Export buying is likely to continue beyond Ramzan also, they said.
Arrivals continued to remain high as the second round of harvesting has begun and given the highly favourable weather conditions this year, the crop is likely to be a “bumper one”, they said.
An increase in demand is seen probably because of the growth in the per capita consumption, of late, which is pointed out as the reason for the current equilibrium in demand and supply, Mr P.C. Punnoose, General Manager, CPMC, told Business Line.
Weekly arrivals continued to remain at around 400 tonnes due to the good crop.
Arrivals at the Sunday auction conducted by the KCPMC stood at 74 tonnes and the entire quantity was sold out, Mr Punnoose said. The maximum price fetched was Rs 945 a kg and the minimum was Rs 405.
Auction average moved up marginally to Rs 614.19 from Rs 612.16 a kg the previous Sunday, he said.
Total arrivals during the current season up to August 22 stood at 1,180 tonnes against 375 tonnes in the same period the previous season.
Sales during the period were at 1,155 tonnes and 371 tonnes, respectively.
Weighted average price as on August 22 was at Rs 621 a kg while that on the same day last year was at Rs 1,352.
The market in Bodinayakannur witnessed some buying activity, trade sources there told Business Line.
Prices of all grades stayed steady at the auctions as well as in the open markets.
Prices in Kumily for graded varieties in Rs/kg were: AGEB 870 -1,000; AGB 685-695; AGS 640- 650 and AGS 1: 610- 620.
Prices in the open market at Bodinayakannur in rupees per kg were: AGEB (7mm) 850-890 AGB (6mm) 650- 675; AGS (5mm – 6mm) 625-650 and AGS 1: 600-610.