Agri Business

Quality arrivals boosts cardamom prices in auctions

V Sajeev Kumar Kochi | Updated on November 13, 2019

File photo   -  BUSINESS LINE

Quality arrivals of cardamom has helped maintain the price momentum in the auctions held on Wednesday at Spices Park, Putttady.

The total quantity on offer in the morning and afternoon trade was 63 tonnnes, but buyers were spread out and cornered for selective buying. However, the quality segment helped to maintain the price momentum in realising higher average prices.

According to traders, more than 50 per cent of the arrived quantity managed by certain prominent group which would help to lessen the impact of higher arrivals. Upcountry buying is yet to gather momentum in the auctions as buyers are looking at price stability, which is also a factor for making traditional buyers for not being active in the trade.

Traders pointed out that climatic conditions in the growing regions are favourable for a good vegetative growth as well as for next month harvest. There are expectations for a good arrivals in the coming months.

In the morning auctions conducted by SIGCCL, the quantity on offer was 56 tonnes and the average price realised was Rs2716.64 per kg. Of the 272 lots, a particular lot received the maximum price tag of Rs3001 per kg.

In the afternoon auction, the quantity on offer was only 7 tonnes and the auctions was conducted by Green House Cardamom. The number of lots were 68 and the average price realised was Rs2692.98 per kg. The maximum price garnered was Rs2855 per kg.

Pepper prices rule higher by Re 1

Pepper prices have ruled higher on Wednesday at the major trading hub of Kochi, where the rates rose by Rs1.

Witnessing low arrivals, the average prices of ungarbled pepper rose to Rs319 per kg and new pepper was settled at Rs304. The price of garbled pepper rose to Rs339 per kg.

According to trade analysts Acumen Capital Markets Ltd, the December futures fell by 2.10 per cent or Rs6.90 when last traded at Rs321 on Wednesday.

Published on November 13, 2019

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