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Quality arrivals coupled with limited quantity offered seem to have lifted cardamom prices by ₹50-100 per kg on Wednesday at Bodinayakanur auctions.
The quantity on offer was low at 41 tonnes. This was because of the decline in the prices since a few days, thus prompting sellers not to liquidate their stock.
There was limited participation following a subdued demand in upcountry markets. Traders cited factors including cash crunch for the slow movement in the downward price trend.
Since it is the last round of harvest for this season, traders are worried about quality of capsules. Usually, such low quality find its market with condiment manufacturers.
In the morning session, the auctioneers Vandanmedu GreenGold Cardamom Producer Company offered 23.41 tonnes in 120 lots. The average price realisation was ₹3,842 per kg on 22.91 tonnes sold. Some selected lots were priced at ₹4,150 per kg.
The offer made by Idukki Dist Traditional Cardamom Producer Company was only 18.35 tonnes. The average price realised was ₹3,749 per kg. There were 111 lots for the trading sesion.
Trade analysts Acumen Capital Markets said that the most active cardamom futures fell by 2.7 per cent or ₹109.8 to ₹3841.20 per kg when closed on Tuesday.
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