Commodities

Cardamom rules steady despite heavy arrivals

G. K. Nair Kochi | Updated on October 28, 2013 Published on October 28, 2013

Cardamom prices were steady despite heavy arrivals at auctions last week on buying support. Around 650 tonnes of cardamom arrived at the auctions and of this, about 630 tonnes were absorbed by market, sources in Bodinayakannur told Business Line.

Dealers’ participation was more, they said. According to traders, farmers as well as primary market dealers were not interested in holding material as they feared that prices will drop further.

Exporters were also covering 7-7.5 mm capsules at Rs 650 a kg. Average grade 8mm capsules were fetching only Rs 700 a kg, while bold with good colour were being sold at Rs 750 a kg. Total arrivals at the Sunday auction of the KCPMC increased to 105 tonnes from 90 tonnes the previous Sunday and the entire quantity was sold out, P.C. Punnoose, General Manager, CPMC, said. He said the maximum price was Rs 790 a kg and minimum Rs 412 a kg. The auction average was Rs 570 a kg down from Rs 593.11 a kg the previous week.

The individual auction average last week vacillated between Rs 555 and Rs 590 a kg which according to growers was much below remunerative price levels. As current season began officially from August 1, total arrivals during the season up to October 27stood at 6,125 tonnes against 2,822 tonnes as on October 28 during the last season. Sales were at 5,979 tonnes and 2,639 tonnes respectively. The weighted average price as on October 27, 2013 stood at around Rs 607.66 a kg as against Rs 741.99 a kg as on October 28 in 2012.

Prices of all graded varieties remained unchanged last week and prices last weekend were (Rs/kg): AGEB 710-720; AGB 585 -595; AGS 545-555; and AGS -1: 525-535. Bulk was being sold at Rs 425-850 a kg.

Published on October 28, 2013
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