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Cardamom market has received one of the highest arrivals of 106 tonnes in the last 10 days in the auctions at Bodinayakanur.
Traders foresee a strong and steady trend due to quality arrivals and the presence of Kerala based dealers to transact the business. Overall there has been a good participation from other stakeholders which is expected to lift the price.
Initially, there was some apprehension among buyers at the start of the auctions due to higher arrivals compared to previous days. But the market rebounded and witnessed a a favourable trend due to the active participation of Kerala dealers, traders said.
Given the bullish trend, the market on Wednesday witnessed Rs 20/kg increase with active purchase by both online and offline sales.
The total quantity on offer was 106 tonnes. In the morning session, the auctioneers Cardamom Planters Marketing Cooperative Society offered 75 tonnes. In the afternoon trade, the auctioneers Cardamom Planters Association, Santhanpara offered 31 tonnes.
According to trade analysts Acumen Capital Markets, cardamom January futures price is showing bullish trend on daily chart.
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