Agri Business

Sunny weather bring hopes on cardamom trade

Our Bureau Kochi | Updated on December 04, 2019 Published on December 04, 2019

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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.

Published on December 04, 2019
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