Comments
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.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.