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Arrivals in the cardamom market topped 100 tonnes in less than a month, on Friday.
According to traders, the previous day’s weak trend seemed to have forced planters to release more stocks to garner a comfortable revenue. but, the market could not sustain the price momentum and witnessed a marginal decline in afternoon trade yesterday, though some selected lots quoted higher prices. This was because of lower participation by major buyers, as well as the quality of the product traded.
The quantity on offer in the morning auctions conducted by MAS Enterprise was 53 tonnes, while the quantity in afternoon trade was 52 tonnes. The auctioneer was Header.
Trade analysts, Acumen Capital Market Ltd, said that the November futures price had shown some weakness on the daily chart.
Sellers seek higher prices for pepper
No transactions were done in the pepper trade today, as sellers have been demanding higher prices.
According to traders, around 20 tonnes was on offer. Sellers were demanding Rs 325 per kg for good quality pepper, Rs 315 for medium quality and Rs 305 for below 500 gm l/gm high moisture.
A halt in the flow of foreign crop to the country is likely to push up domestic prices, traders said.
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