Small cardamom prices declined last week at auctions as the material was of medium quality.Growers who are holding small stocks of cardamom from the previous crop were releasing them, trade sources claimed.

This, coupled with the initial new crop which is also of medium quality, has been keeping the prices at the current level.

Compared with the arrivals at this time of the previous season, the supply was substantially higher and that phenomenon also aided the price slip, PC Punnoose, General Manager, CPMC, told BusinessLine. Ranganathan , a dealer in Bodinayakannur, said the material arrived is of medium quality from the new crop.

Good quality capsules from the new crop are expected to start in early August, he said.Export buying was slow. Availability of exportable grade capsules of 7mm and above was very thin. Exporters said to have bought an estimated 20 tonnes of cardamom last week.

Small dealers spread over the country were the buyers now. They were all covering small quantities. Therefore, what ever material arrived in the market every week is fully absorbed.

Last week arrivals stood at around 375 against 365 tonnes the previous week and 228 tonnes at this time of the season last year, market sources claimed.

At the Cardamom Planters’ Association (CPA) auction held in Bodinayakannur today, a total of 16.5 tonnes cardamom arrived 16.3 tonnes were traded.

The maximum price was at ₹828 a kg and the auction average fell to ₹626.84 from ₹648 a kg last Monday.

The individual auction average has declined and it was vacillating between ₹635 and ₹665 a kg. Total arrivals during the season up to June 20 stood at 20,729 tonnes against 20,999 tonnes during the same period last year. The sales were at 20,152 tonnes and 20,265 tonnes respectively. The auction average as on June 20 was at around ₹650 (₹730) a kg.

Prices of graded varieties (₹/kg): 8mm bold good colour 970-1,000; 7-8 mm 800-825; 6-7 mm 650-675; below 6 mm: 580-600.

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