Agri Business

Subdued demand on account of Holi takes the aroma out of cardamom

V Sajeev Kumar Kochi | Updated on March 10, 2020 Published on March 10, 2020

Holiday mood in the North Indian markets on account of Holi has created a subdued demand for cardamom at the auctions held in Bodinayakanur on Tuesday.

Average price realisation was lower due to less availability of premium variety capsules. Of the 161 lots in the afternoon auctions, traders pointed out that 121 lots were present bulk.

Buyers were also not active because of a confusion in price instability in the market. Exporters were inactive due to low quality arrivals. Traders pointed out that they are looking at capsules of 7-8 mm grades and the current availability of cardamom is only below 7 mm grades.

There is enough stock of these specific grades in plantations and they would liquidate it at the appropriate time to cater to the export demand. Right now, they are on a wait-and-watch mode, traders said.

Meanwhile, cardamom growing areas have started receiving summer showers which are very essential for the survival of the plants, traders said.

In the morning session, the auctioneers Cardamom Growers Forever offered 12 tonnes in which the average price realisation was ₹2,791/tonne. Some selected lots received a maximum price tag of ₹3,477.

The auctioneers KCPMC in the afternoon session offered 32 tonnes and the average price realised was ₹2,704. Some selected varieties realised a maximum price of ₹3,266.

According to trade analysts Acumen Capital Markets, the April futures fell by 1.21 per cent or ₹30.80 to ₹2,510 when last traded on Monday.

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Published on March 10, 2020
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