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Cardamom prices fell last week as supply outstripped demand at auctions held in Kerala and Tamil Nadu.
Total supply last week was at around 965 tonnes against 868 tonnes the previous week. Prices fell by ₹25-30 a kg.
“The weather this year has been very good and, as a result, the crop is also better. It is reflected on the arrivals at each auction,” PC Punnoose, General Manager, CPMC, told BusinessLine.
He said the export buying has helped in arresting the fall in prices to a great extent last week. He said good buying support from the upcountry markets has also supported the market at this time of heavy arrivals, trade sources in Bodinayakannur said.
Exporters were active last week and they have bought an estimated 100-120 tonnes.
The individual auction average last week moved up and was vacillating between ₹580 and ₹630 a kg.
At the Cardamom Planters’ Association (CPA) auction in Bodi today, arrivals stood at 45.3 tonnes against 56.4 tonnes the previous Monday and of this 43.9 tonnes were sold. The auction average fell to ₹570 from ₹588.02 a kg.
Total arrivals during the season up to December 5 were at around 13,432 tonnes and sales were at 13,060 tonnes. The individual auction average as on December 5 was at ₹630.
Prices of graded varieties (₹/kg): 8mm bold good green colour 850-900; 7-8 mm 690-720; 6-7 mm 590-620; below 6 mm: 530-560.
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