Amidst lower arrivals of 65 tonnes in the two trading sessions, cardamom auction market is likely to be stable on Friday at Spices Park in Puttady.
With the fag end of the season, traders said that the market has started witnessing lower arrivals and the trend is expected to continue in the coming days. Though there were enquiries from upcountry markets, the cold wave conditions in many North Indian markets are hindering the active participation of buyers from that markets.
The market is likely to be dominated by local buyers from Tamil Nadu and Kerala, traders said, adding that there were some export enquiries as well. However, they pointed out that quality arrivals would determine the market as was seen on Friday helping the market to regain its strength in the afternoon trade after witnessing a weak trend in the morning. The local buyers and exporters helped to maintain a positive trend. The market at the same time also facing a crash crunch on account of higher price realisations in the last few days.
The total quantity on offer today was 65 tonnes. The auctioneers Cardamom Planters Association, Santhanpara offered only 10 tonnes in the morning session. In the afternoon trade, Cardamom Planters Marketing Cooperative Society, Thekkady offered 65 tonnes.
Trade analysts Acumen Capital Markets said that the most active cardamom February futures rose by 0.86 per cent or Rs 32.9 to Rs 3826.80 when last traded on Thursday. Cardamom February futures price is showing a bullish trend on the daily chart.