Agri Business

After 50-day gap, cardamom e-auctions resume at Bodinayakanur

V Sajeev Kumar Kochi | Updated on June 28, 2021

Cardamom e-auctions, which were suspended following the second wave of Covid pandemic, resumed at Bodinayakanur on Saturday after a gap of nearly 50 days.

The trade was conducted with strict Covid protocols and limited participants and the market realised an average price of ₹1,139/kg with active participation of exporters and upcountry buyers. The quantity offered in both the trading sessions was 80,404 kg.

According to traders, the offered quantity was carryover stock of the last season and the closing average was slightly higher compared to the last auction held on May 7. The authorities have restricted the participation of 45 persons for the auctions in Bodinayakanur, while the allowed participants for the auctions in Puttady in idukki district are 25 with either Covid vaccination certificate or RT-PCR.

New crop

The market, according to traders, is in a steady mode, but a real picture would be ascertained only with the arrival of the new crop, which is expected to hit by July end. The market opened with high hopes, but due to the change in consumption pattern and inter-state logistic issues, the momentum in prices could not sustain even it managed to hold the average between ₹1,350 and ₹1,500 for a while.

M Dhanavandhan, a cardamom exporter based in Bodinayakanur, told BusinessLine that the trade is pinning hopes on the new crop with good quantity, thanks to extended rains in the plantations regions and extended area of farming. The second wave of the pandemic has badly affected the market with huge stocks piling up with farmers.

Export prospects bright

However, the export market was conducive with good improvement in overall sales due to lesser arrivals from competitive countries. The overseas trade market is doing relatively well compared to the last few years, despite Covid restrictions, he said, adding that importers are in a dilemma whether to wait for the new crop or to continue with the current procurement and cover the demand at the existing price levels.

Published on June 26, 2021

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