Agri Business

Cardamom continues to lose flavour on weak demand

G. K. Nair Kochi | Updated on May 27, 2013 Published on May 27, 2013

BL28_AGRI_CARDAMOM

Cardamom continued to lose flavour on weak demand in a sluggish market. Consequently, prices remained nearly steady at last week auctions.

Arrivals have shown a marginal decline following the continuous fall in prices. Nobody was interested to buy from a declining market.

Exporters were buying moderate quantities and an estimated 50 tonnes of the material were claimed to have been bought by them.

The average auction price continued to remain below Rs 600 a kg and vacillated between Rs 505 and Rs 590.

The exportable grade of 7mm and above capsules were being sold at Rs 725-750.

There were no buyers for fancy varieties viz., 8mm bold. Prices offered for the variety was below Rs 800. Much of the material were of inferior quality and that in turn has also aided the price decline, trade sources in Bodinaikannur said.

Total arrivals at the Sunday auction held by KCPMC decreased to 69 tonnes from 78 tonnes the previous Sunday and the entire quantity was sold out, P.C. Punnoose, General Manager, CPMC, told Business Line.

The maximum price was at Rs 921and the minimum at Rs 380. The auction average was at the previous Sunday’s level of Rs 567, he said.

Total arrivals and sales in August 1, 2012- May 26, 2013 were at around 13,390 tonnes (17,970 tonnes last year) and about 12,785 tonnes (17,310 tonnes) respectively.

The weighted average price as on May 27 stood at around Rs 715 against Rs 628 last year. Prices of graded varieties remained unchanged.

Prices in Rs/kg were: AGEB: 820-830; AGB: 570-580; AGS: 560-570; and AGS -1: 540-550.

The cardamom growing belt has received scattered rains in last week bringing the temperature down.

If good rains are received that would have a positive impact on the next crop, they claimed.

According to them, next crop is likely to be early and it can be expected after mid-June.

Published on May 27, 2013
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