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Cardamom prices were up last week on buying interest at auctions held in Kerala and Tamil Nadu.
Good demand, even as the supply continued to show an upsurge, helped the market to move up, sources said.
Strong Diwali sales appear to have emptied the inventories of upcountry market dealers and that in turn has prompted the buyers to cover from the market last week, PC Punnoose, General Manager, CPMC, told BusinessLine.
Total arrivals at auctions last week stood at 868 tonnes against around 900 tonnes the previous week. Exporters have bought an estimated 75-100 tonnes last week. The individual auction average last week moved up and was vacillating between ₹600 and ₹630 a kg.
At the Cardamom Planters’ Association (CPA) auction in Bodi today, arrivals stood at 56.4 tonnes against 45.9 tonnes the previous Monday and almost the entire quantity was sold. The auction average moved up to ₹588.02 from ₹577.23 a kg.
Total arrivals during the season up to November 28 were at around 12,468 tonnes and sales were at 12,136 tonnes. The individual auction average was at ₹632.
The current crop is estimated to be nearly double of that of the previous season.
Prices of graded varieties (₹/kg): 8 mm bold good green colour 900-950; 7-8 mm 720-750; 6-7 mm 600-650; below 6 mm: 560-590.
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