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Small cardamom markets witnessed an easier trend following weak demand due to holidays in North India coupled with anticipation of summer rains.
However, the trend has shown a reversal on Monday at the forenoon auction conducted by the Cardamom Planters Association (CPA) Santhanpara, in Bodinayakannur. Of the 19 tonnes arrived, 11 tonnes were traded. The maximum price stood at ₹1,177 a kg, while the individual auction average was at ₹935.92 — slightly up from the previous Monday’s average of ₹931.23.
The slip in prices can be attributed to a decline in demand as the buyers had slowed down following forecasts of rains in the region last week, PC Punnoose, General Manager, CPMC Kumily, told BusinessLine .
Exporters have also slowed down last week and they have bought an estimated 65 tonnes, he said.
Total arrivals last week decreased to 594 tonnes from 653 tonnes the week before. The individual auction average has dropped to ₹947.18 a kg from ₹980.05 the previous week. It was vacillating between ₹917-930.
Total arrivals during the current season as on March 3 were at 19,162 tonnes and sales were at 18,654 tonnes. The individual auction average of the season was at ₹963.18 a kg.
Prices of graded varieties (₹/kg): 8mm green bold 1,300; 7-8 mm: 1,040-50; 6-7 mm: 940-950. Good bulk was being traded at ₹1,000 a kg.
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