Agri Business

Cardamom prices rise by Rs 50-70/kg due to upcountry and export demand

V Sajeev Kumar | Updated on November 15, 2019 Published on November 15, 2019

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Active North Indian and exporters participation has lifted cardamom prices to a higher level on Friday's auction held at Spices Park in Puttady.

The prices registered an upward trend of Rs 50-70 per kg for bulk quantity and up to Rs150 per kg for premium grades due to quality arrivals. Moreover, the presence of leading auctioneers also ensured a good arrivals of 105 tonnes for the two trade transactions held in the morning and afternoon.

According to traders, the surging price trend has been evident in the whole week because of more arrivals and the rising trend is likely to continue next week as well as the market is going strong.

Majority of the export demand have been met by Gulf countries, as arrivals of Guatemala cardamom will take one more month to hit the market. Till then, the Indian capsules holds great potential in the export market, benefiting growers here. The active participation of North Indian buyers also kept a buoyancy in the market for higher price realisation.

The quantity on offer in the morning trade was 54 tonnes and the auctioneers was Header Systems India Pvt Ltd. The average price realised was Rs 2769.25 per kg. Out of the 285 lots, a particular lot received a maximum price tag of Rs 2941 per kg.

The total quantity on offer in the afternoon auction was 51 tonnes conducted by Mas Enterprises Ltd. The average price realised was Rs2809 per kg and the maximum price for a particular lot was at Rs3333 per kg upon quality and size.

Pepper prices stable in Kochi

Pepper market is ruling steady in Kochi with no changes in the prices.

The average price realised was Rs319 per kg for ungarbled on an arrival of 10 tonnes. According to traders, there is no panic among Kerala traders and farmers to sell the commodity upon International Pepper Community report on global surplus production like that of their counterparts in Karnataka.

The Kochi pepper rate for MG1 garbled was Rs339 per kg and new pepper at Rs304 per kg.

Published on November 15, 2019
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