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After witnessing a declining trend in arrivals since a few days, the quantity offered in cardamom auctions has slightly improved by registering 62 tonnes in Bodinayakanur.
Traders foresee that the market is likely to be steady with improvement in arrivals, even though lower arrivals have prompted many buyers to abstain.
There is also a concern among traders on the quality of capsules considering the fag end of the harvest season. Besides this, the cash crunch in the market is also forcing buyers to adopt lean buying.
In the morning session, the auctioneers Sugandhagiri Spices Promoters and Traders offered 22 tonnes, while the offer made by SpiceMore Traders, Kumily was 40 tonnes.
Trade analysts Acumen Capital Markets said that most active cardamom March futures gained by 0.8 per cent or ₹31.6 to ₹3,957 when closed on Wednesday. The March futures price is showing some recovery on the daily chart.
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