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Small cardamom markets witnessed a steady/firm trend at auctions and in the open markets in Kerala and Tamil Nadu due to a squeeze in supplies.
Arrivals continued to show a declining trend as the harvesting season was almost over and this phenomena could be attributed to the current rise in prices, PC Punnoose, General Manager, CPMC, told BusinessLine .
He said the protracted dry spell with high temperatures at this time of the season in Kerala’s Idukki district, the main cardamom growing region in the country, is responsible for the fall in supply and the consequent upward trend in the prices.
Water resources for irrigating the plants have almost dried up. In several estates, where irrigation facilities do not exist, the plants have started to wither, he said.
Exporters were covering and bought an estimated 50 tonnes of exportable variety last week, he added. Upcountry buyers were also buying.
Whatever material had arrived was being absorbed by the market, market sources said. “The market in Bodinayakannur, the main trading hub of the aromatic spice in the country, is showing a steady/firmer trend because of the squeeze in arrivals,” said Ranganathan, a Bodi-based dealer.
Even at the Cardamom Planters’ Association auction held in Bodi today, the arrivals stood at 5.3 tonnes and almost the entire quantity was sold out. The individual auction average stood at ₹1,325.04 a kg against ₹1,296.10 the previous Monday. The maximum price was at ₹1.474/kg, he said.
Arrivals last week stood at 396 tonnes (12 auctions) against 331 tonnes (10 auctions) the week before.
Consequently, the auction average slipped to ₹1,325.92 from ₹1,364.91 a kg the previous week. Total arrivals during the season from August 1 up to February 4 were at 11,963 tonnes and sales were at 11,373 tonnes.
The individual auction average for the season, as on February 4, stood at ₹1,120.47/kg.
Prices in ₹/kg : 8mm bold good colour 1,550-1,625; 7-8 mm 1,425-1,500; 6-7 mm 1,350-1,400 and below 6 mm: 1,250-1,300.
Medium bulk was being traded at ₹1,300-1,350 a kg. Good bulk was fetching ₹1,400 but its availability is limited.
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