Comments
Despite passing through a skeptical mode, a bright sunshine on Wednesday morning seems to have sent a positive momentum for cardamom auctions at Bodinayakanur.
However, traders were of the view that a price trend could be analysed only in the afternoon session as there was considerable quantity on offer compared to morning trade. More arrivals and higher price realisations in the last one week has indirectly affected the purchasing capacity and ability to pump in more money for further procurement, traders said.
It is pointed out that the consistent higher quantity arrivals have hit the market liquidity which is evident from the drop in prices in the last couple of days. The current price realisation of cardamom was also the highest in the history of cardamom trade, traders added.
The total quantity on offer in today’s auction was 98 tonnes. In the morning trade session, the auctioneers GreenHouse Cardamom, Puliyanmala offered 18 tonnes. In the afternoon session, the quantity on offer was 80 tonnes and the auctioneers was South Indian Green Cardamom Company Ltd.
Trade analysts Acumen Capital Markets said that the most active cardamom December futures fell 1.1 per cent or Rs33.7 when last traded at Rs2834.40 per kg on Tuesday. The futures price is showing mixed trend on daily chart.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.