Agri Business

Cardamom rules steady on quality arrivals

V Sajeev Kumar Kochi | Updated on March 11, 2020

Quality arrivals have helped boosting the prices of cardamom at the auctions.

The average price realised in Puttady auctions on Wednesday was ₹2,741 a tonne, but lower arrivals have ensured a steady market with a minimal participation of local and upcountry buyers. The afternoon auction was cancelled due to lower arrivals.

The quantity offered by Idukki Dist Traditional Cardamom Producer Company was 28.25 tonnes in 155 lots. Some selected lots received a maximum price of ₹3,417.

However, traders pointed out that the market has been witnessing a slowdown because of the holiday mood in consuming markets on account of Holi. Exporters are also not active with limited buying because of the impediments they face in sending cargo due to flight cancellations and rescheduling in the post-virus era.

Traders cited various reasons for cancellation of auctions that include price fluctuation in the market, forcing buyers to stay away. The cash crunch being felt in the market could be another reason for cancelling the auctions.

It is pointed out that January, February and March are considered a lean month period for the spice, resulting in a slow movement in the sales process. Moreover, the high-priced inventory piling up with stockists also made a further slowdown in the sales process. The price volatility has forced buyers to procure cardamom only for requirement than for stocking, traders added.

Published on March 11, 2020

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