Agri Business

Cardamom Monday auctions witness upcountry and export demand

V Sajeev Kumar Kochi | Updated on December 16, 2019 Published on December 16, 2019

File photo   -  The Hindu

Good export enquiries and a revival in the upcountry demand is expected to provide a bullish trend in cardamom auctions at Spices Park in Puttady on Monday.

According to traders, the inventory position across the consuming markets in North India after Diwali sales was below average, prompting upcountry buyers to come to the auction market for purchase. There is a scope for repeated orders. Likewise, there are export enquiries which would extend the strong and positive market in today’s auction.

Moreover, the arrivals are also coming down which is expected to reduce further as it is fag end of the season, traders said adding that the prices continue to be firm in the last two days. 

The total arrival in the two trading sessions was 80 tonnes. In the morning auction, the auctioneers Idukki District Traditional Cardamom Producers Company offered 55 tonnes in 268 lots. In the afternoon trade, the auctioneers Vandanmedu GreeGold Cardamom Producers Company offered 32 tonnes in 160 lots.  

Trade analysts Acumen Capital Markets Ltd said that the most active cardamom January futures dropped by 0.33 per cent or Rs10.2 when closed at Rs3039.80 on Friday. The January futures price is showing bullish on the daily chart.

Published on December 16, 2019
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