The cardamom market gained flavour last week on demand for Diwali despite higher arrivals at auctions.
However, supply, currently, is below compared with the same period a year ago. The arrival last week stood at 576 tonnes while it was at around 730 tonnes in the corresponding week last season.
Exporters have slowed down buying after “Bakrid” demand got over. But fresh orders are expected from next week, trade sources in Bodinayakannur told
Even at Monday’s auction in Bodinayakannur, conducted by the Cardamom Planters Association, 55 tonnes of cardamom arrived. Of this, 54 tonnes were sold and the average price was 727.54 a kg.
According to traders, this is on the higher side. Auctions last week were held after a five-day long holiday and hence there arrivals increased.
At the same time, every one, especially Tamil Nadu growers, sold to meet their expenses for Diwali.
Meanwhile, buyers all over the country are also actively covering to meet festival demand. Therefore, the market witnessed a firm trend.
At the Sunday auction held by the Kerala Cardamom Processing and Marketing Company, arrivals were 113 tonnes on Sunday and almost the entire quantity was sold out, PC Punnoose, General Manager, CPMC told BusinessLine .
The maximum price was ₹1,007 a kg and the minimum was ₹557 a kg. The auction average was ₹754.19 a kg, he said.
The individual auction average moved up last week to between ₹725 and ₹760 a kg from ₹700-720 a kg a week ago.
Supply of 8mm bold continued to remain thin and good colour bold capsules were fetching ₹980 a kg.
Total arrivals during the season stood at 3,801 tonnes against 5,110 tonnes during the same period a year ago.
Sales were 3,727 tonnes against 4,896 tonnes. The individual auction average, as on October 12, was around ₹737 a kg against ₹587 a kg a year ago.
Prices of graded varieties (₹/kg): 8mm bold (950-980); 7mm-8mm (825); 6mm-7mm (730-740); below 6 mm (650-660).