Agri Business

Quality crop keep cardamom auction market steady

V Sajeev Kumar | Updated on December 02, 2019 Published on December 02, 2019

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The availability of quality crop on offer is likely to maintain cardamom prices stable on Monday auction at Spices Park in Puttady.

According to traders, both the auctioneers -- Idukki District Traditional Cardamom Producers Company (IDTCPC) and Vandanmedu GreenGold Cardamom Producer Company (VGCP) -- are known for offering quality cardamom in the auctions and this would keep the market steady.

Moreover, the active participation of North Indian buyers is expected to push up prices in the wake of higher arrivals at 103 tonnes. The climatic conditions are also favourable for a strong market.

The auctioneers IDTCPC have offered 59 tonnes in the morning sessions, while the offer made by VGCPC in the afternoon trade was 44 tonnes.

Heavy arrivals in the last entire week had affected market sentiments, posting a declining trend in prices. However, the market recouped the prices on Saturday due to active participation of all stakeholders in the segment, realising an average price of Rs2895 per kg. The traders are hoping that this upward trend is expected to continue this week, as North Indian buyers are active as they apprehend that the favourable climate conditions in the growing regions may lead to drop in arrivals.

According to trade analysts Acumen Capital Markets, Cardamom December futures show a mixed trend on a daily chart. The most active cardamom December futures gained 0.8 per cent or Rs25.40 when last traded at Rs 2827.50. 

Published on December 02, 2019
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