Agri Business

Cardamom auction witness good upcountry demand

Our Bureau Kochi | Updated on December 13, 2019 Published on December 13, 2019

A booming upcountry demand is likely to push up cardamom prices during auctions in Spices Park, Puttady.

According to traders, the market is expected to be strong and steady with a good demand from all the stakeholders including exporters and North Indian buyers. Since it is the fag end of the season, majority of them interested in procuring quality cardamom. They anticipate that there could be a compromise on quality after December, which was the reason for the increased buying. Moreover there was a speculative mood in the market.

The total quantity on offer in today’s auction was one of the highest in this week at 127 tonnes in the two trading sessions.

The auctioneers Header Systems offered 67 tonnes in the morning session, while the offer made by the auctioneers Mas Enterprises was 60 tonnes.  

According to trade analysts Acumen Capital Markets, most active cardamom futures price is showing bullish trend on daily chart. The most active cardamom gained by 0.24 per cent or Rs.7.20 when closed at Rs.3,050 on Thursday.

 

Published on December 13, 2019
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