Sentiment lifts cardamom prices at Bodi auctions

Sentimental factors seem to have lifted cardamom prices by Rs 50 per kg across all categories at the Bodinayakanur auctions on Thursday.

According to traders, the market was dominated by sentiment rather than physical demand and supply. A possible drop in arrivals after December on account of low harvesting, as well as the availability of low quality produce, has seen buyers purchase the current available quality at the best available price.

With arrivals at 106 tonnes in the last 10 days, the market was strong and steady, with the active participation of North Indian traders, stockists and exporters. A speculative mood was predominant, traders said. The combined average price in the two trading sessions was Rs 2,929.92 per kg.

In the morning session, the auctioneers, the Cardamom Planters’ Marketing Cooperative Society, offered 75 tonnes of 291 lots, which realised an average price of Rs 2,935.18 per kg, with the highest price quoted for select lots being Rs 3,205.

In evening trade, the auctioneers, the Cardamom Planters’ Association, Santhanpara, offered 32 tonnes of 207 lots, which realised an average price of Rs 2,924.67 per kg.

According to trade analysts, Acumen Capital Markets, the most active cardamom futures gained 0.24 per cent or Rs 7.20 to Rs 3,050, when the markets closed on Thursday.