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Cardamom auction market has witnessed an unexpected gain on Monday at Bodinayakanur with prices registering a Rs 100 per kg increase on all varieties.
Traders attribute the current rising momentum to online trade boom, active stockist participation and improved quality arrivals. There was hardly any sign of a cash crunch today in the booming sales as there was an active buying. With a reported surge in prices, exporters abstained from buying, but upcountry dealers were active.
The total quantity on offer was 94 tonnes and has received a combined average price of Rs 2975.86 per kg. The auctioneers Vandanmedu GreenGold Cardaomom Producer Company offered 36 tonnes of 197 lots in the morning trade and the average price realised was Rs 2980 per kg. The highest price quoted for selected lots was Rs 3226 per kg.
In the afternoon trade, Indian Traditional Cardamom Planters Company offered 58.4 tonnes of 265 lots in which 58 tonnes realised an average price of Rs 2971 per kg. Selected lots received a higher price of Rs 3182 per kg.
Trade analysts Acumen Capital Markets said that the most active cardamom January futures moved by 0.97 per cent or Rs 29.70 when last traded at Rs 3090 on Monday.
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