Comments
Small cardamom prices gained at last week’s auctions held in Kerala and Tamil Nadu.
Incessant rains in the main cardamom growing district in the country, Idukki, accompanied by strong winds has inflicted damages to the cardamom plants in several areas. This phenomenon has created a bullish sentiment in the market and that in turn has pushed the prices last week by around ₹30-40 a kg.
An estimated 15-20 per cent of the plants has been damaged and that in turn would result in a corresponding decline in the output, some of the growers in Idukki district told BusinessLine.
Harvesting and other activities in the estates were stopped from Monday to Wednesday last week because of the strong winds along with the rains, PC Punnoose, General Manager, CPMC, told BusinessLine. Given this scenario, upcountry buyers were all covering, albeit small volumes. Whatever material arrived was absorbed by the market, he said.
He said in the current arrivals 30-40 per cent of the capsules are from the new crop. But, size of the cardamom is of medium type. Supply of exportable grade material is yet to pick up. An estimated 25 tonnes of cardamom were bought by the exporters, trade sources said.
Last week, arrivals stood at around 348 tonnes against 375 tonnes the previous week and 256 tonnes at this time of the season last year. At the Cardamom Planters’ Association (CPA) auction held in Bodinayakannur today, 18.2 tonnes arrived and 17.2 tonnes were traded. The maximum price was at ₹843 a kg and the auction average increased to ₹684.46 (626.84). The individual auction average too moved up and vacillating between ₹660 and ₹700 a kg.
Total arrivals during the season up to June 27 stood at 21,077 tonnes against 21,245 tonnes during the same period last year. The sales were at 20,497 tonnes and 20,521 tonnes respectively.
The auction average as on June 27 was at around ₹675 against ₹765.
Prices of graded varieties (₹/kg): 8 mm bold good colour 990-1,000; 7-8 mm 810-825; 6-7 mm 670- 695; below 6 mm: 600-610.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.