Small cardamom prices moved up further last week on bulk Sankaranti purchases amid a squeeze in supply at auctions held in Kerala and Tamil Nadu.

As nearly 90 per cent of the harvesting is said to be over, the arrivals were showing a shrinkage, trade sources said.

Looking at the upsurge in prices, those who are holding the material may release it this week, said PC Punnoose, General Manager, CPMC. “If they released their produce in a regulated manner, then it would not make any negative impact on the prices,” he added.

Exporters have slowed down following the sharp rise in the prices which remained above ₹1,300 a kg last week. They have bought somewhere between 40 and 50 tonnes of capsules last week, they said.

According to Ranganathan, a dealer in Bodinayakannur, the main trading hub for the commodity in the country, the prices have shot up following bulk purchases by the Tamil Nadu government for distribution during Pongal. Consequently, the prices increased by ₹100-150 a kg and it is likely slip once the Pongal purchases are over, he added.

Arrivals last week increased to 392 tonnes from 286 tonnes the week before.

The auction average last week moved up to above ₹1,350.92 a kg from ₹1,204.51 and was vacillating between ₹1,289 and ₹1,414 a kg.

Total arrivals during the season from August 1 up to January 7 were at 10,486 tonnes and sales were at 9,932 tonnes.

The individual auction average for the season as on January 7 stood at ₹1,081.65/kg.

Prices in ₹/kg : 8mm bold good colour 1,600-1,700 ; 7-8 mm 1,400-1,500; 6-7 mm 1,300-1,400 and below 6 mm: 1,150-1,250.

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