Cardamom prices ruled nearly steady last week at the auctions. Aggressive export buying kept the market stable even as there buying support was lacking from upcountry traders.

Exporters bought an estimated 80 tonnes last week. Whatever exportable grade material arrived was picked up by them whereas, there was not much buying interest from north Indian states. The trade attributed this phenomenon to the presence of inferior variety material imported from Guatemala in to main upcountry consuming centres.

Market sources told Business Line that Guatemala does not consume even a single kg of cardamom internally and therefore, they have to dispose of the inferior grade which they sell off at throwaway prices.” They said that the availability of such material in the country has slowed down upcountry demand, of late. “Otherwise, at this time of the season normally good inquiries used to pour in,” they said.

The second round of picking has commenced and arrivals also have picked up. However, due to a “hartal” on Tuesday and holiday on Sunday on account of Onam, total arrivals declined.

The individual auction average slipped to between ₹740 and ₹800 a kg. Supply of 8mm bold is yet to pick up and its short supply kept the prices at ₹1,100. During the current season that began last month, arrivals are 1,503 tonnes against 2,245 tonnes as on September 6 during the last season. Sales were 1,465 tonnes against 2,241 tonnes . The weighted average price as on September 6 stood at around ₹815 (₹615).

Prices of graded varieties (₹/kg): AGEB 915-935; AGB 780-790; AGS 650-670 and AGS -1: 620-640.

Related Topics
comment COMMENT NOW