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Cardamom auctions on Wednesday received one of the highest arrivals of 50 tonnes in the last fortnight for the afternoon transactions which is to be carried out by South India Green Cardamom Company Ltd at Spices Park, Puttady.
This for the first time that the market is receiving such a higher quantity for trade. However any predictions on the movement of prices can be made possible only after the commencement of the auction, traders said.
In the morning auction, the quantity on offer was only six tonnes. The auctions will be conducted by Green House Cardamom Marketing Company Ltd.
Traders pointed out that the market is witnessing bright sunny days and almost to an end size of the season. Any chances of heavy arrivals to the auctions market were remote especially during the period between January to March unless farmers would have stocked the material in anticipation of a price hike. This year due to delayed monsoon and prolonged drought, the sector is expecting only one more round quality harvest. Normally there are five rounds of harvest.
The analysts Acumen Capital Market Ltd said that cardamom November futures price is showing some recovery on daily chart.
Pepper market ruling steady
Pepper market is ruling steady with five tonnes have been traded so far at a price of Rs305 per kg.
According to traders, the arrival so far was nine tonnes. The market is steady at the moment and would see how the demand fix up.
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