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Low arrivals in the cardamom auctions market is expected to have a positive effect on prices on Monday.
According to traders, both the auctioneers are known for ensuring quality and pricing in transactions, and this would help fetch better prices. The transactions would also ensure availability of graded cardamom, which would have a good impact and guarantee better prices for farmers.
A quantity of 21 tonnes in 140 lots was received for the morning auction to be conducted by ITCPC Ltd at the Spices Park, Puttady. In the afternoon auction, 17 tonnes in 90 lots will be auctioned by VGCPC, Vandanmedu.
Meanwhile, trade analysts pointed out that the trend in November futures was showing some weakness on the daily chart. The futures settled higher at Rs 2,506 per kg on Friday. Prices in the auction conducted on Saturday rose by Rs 30 per kg. Sunny weather conditions in the main growing regions also supported a surge in prices.
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