Agri Business

Rain may dampen sentiments of cardamom auction market

V.Sajeev Kumar | Updated on October 30, 2019

The recent rains being experienced in the high ranges are likely to affect the sentiments of cardamom auction market.

As the continuous rains will enable to sustain cardamom production in the coming months, the traders fear that the current spell might hinder a sudden surge in prices. The market is realizing better prices for the moment due to low arrivals and the trend is likely to be reversed, they say.

Traders pointed out that arrivals for the morning auction to be held at Spices Park at Puttady were 26 tonnes. However, there was a slight delay in the commencement of the auctions following a road block at Kumbum due to inclement weather. Since the auctioneers, South Indian Green Cardamom Company was one among the major auctioneers, traders expect the availability of uniform quality of cardamom in the morning transactions.

The quantity on offer in the afternoon auction to be conducted by Green House Cardamom Company was only five tonnes. there was no pepper arrivals for the Kochi trade

Arrivals to the Kochi pepper trade has been affected on Wednesday as all the markets in the producing areas were closed. This has affected the arrivals in terminal markets.

It is reported that there could be no trading today unless and until some arrivals reached in the afternoon dispatched from high ranges or from any primary markets, said Kishore Shamji of Kishor Spices.

Published on October 30, 2019

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