Agri Business

Cardamom auctions at Bodi witness active trade participation

Our Bureau Kochi | Updated on January 10, 2020 Published on January 10, 2020

Traders foresee a strong and steady market at cardamom auctions on Friday at Bodi, thanks to the active participation of all stakeholders.

The arrivals were at 98 tonnes and both upcountry local buyers were active. The Pongal festival season demand is expected to rise the momentum in the market, traders said.

The market on Thursday remained steady without witnessing any upward movement despite good arrival. It has realized a combined average price of Rs.3,875 in the two trading sessions. It was the upcountry demand that had made the market strong and steady, traders added.

The availability of quality cardamom capsules seem to have ensured a good upcountry participation in the auctions held in Puttady on Thursday. However the market is expecting lower arrivals shortly following the lean period in the next three months.

In the morning session Cardamom Planters Marketing Cooperative Society offered 75 tonnes. In the afternoon auction, the auctioneers Cardamom Processors Association offered 23 tonnes.

Trade analysts Acumen Capital Markets said that the most active Cardamom February futures rose by 2.42 per cent or Rs.94.6 to Rs.4,002.8 (3,908.20) when closed on Thursday. The February futures price is showing a bullish trend on the daily chart.

Published on January 10, 2020
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