Small cardamom prices gained last week on export buying at auctions held in Kerala and Tamil Nadu.

Arrivals continued to remain negligible. Last week, around 50 per cent of the arrivals were picked up by exporters and the rest was absorbed by domestic dealers, CPMC General Manager PC Punnoose told BusinessLine.

According to trade sources in Kerala’s Idukki district, trading activities in almost all commodities have experienced a 50 per cent decline following the demonetisation drive and that has been reflecting on all the allied and related activities.

Exporters were active and they have bought an estimated 120 tonnes last week. This phenomenon has kept the market firmer despite limited activity.

At today’s (Monday) auction in Bodinayakannur by the Cardamom Planters’ Association (CPA), 7.1 tonnes arrived and almost the entire quantity was traded. The auction average was at ₹1,249.64 a kg. The maximum price stood at ₹1,401.

Meanwhile, in the open markets in Bodinayakannur, the main trading hub for the aromatic spice, prices soared on thin arrivals, Ranganathan, a dealer told BusinessLine.

Due to the failure of both the South-West and the North-East monsoons, arrivals are likely to shrink further in the coming days, he claimed.

Total arrivals at last week’s 11 auctions stood at 333 tonnes. The individual auction average last week moved up to ₹1,266.37 a kg from ₹1,261.07 a kg the previous week and vacillated between ₹1,226 and ₹1,329 a kg.

Prices in ₹/kg: 8mm bold good colour 1,500-1,600; 7-8 mm 1,350-1,450; 6-7 mm 1,250-1,300 and below 6 mm: 1,100-1,200.

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