Cardamom prices ruled steady with the individual auction average staying at above ₹800 a kg, despite a slow down in export buying as demand matched supply at the auctions. However, graded varieties increased marginally. According to the exporters, there were no overseas buyers at current price levels. Guatemala, which had held back its produce when the Indian prices were ruling low, has started offering now at competitive rates about $2/kg below the Indian parity, market sources told Business Line .

They said Guatemala was offering at $12–12.5 a kg against the Indian offering of $14-$14.5 a kg. Upcountry buyers are not active due to lack of liquidity, traders said. Due to stoppage of cash and carry business, some kind of sluggishness has crept in the market.

Only ‘B’ grade dealers are actively covering. Exporters had been hitherto cornering nearly 35 per cent of the arrivals and the balance was picked up by the upcountry dealers. But since prices have shot up they are staying away from the market.

Slowdown The trade attributed this to slow down due the upswing in prices. The individual auction average last week at the main auctions vacillated between ₹801 and ₹845 a kg. On April 1, the auction average was ₹840.33 a kg whereas it was at ₹601.33 a kg on the same day a year ago.

At the Sunday auction held by the KCPMC, arrivals increased to 85 tonnes from 74 tonnes a week ago and the entire quantity was sold. The maximum price was ₹1,151 a kg and the minimum ₹411 a kg. The auction average was ₹802 a kg against ₹803.09 a kg a week ago, PC Punnoose, General Manager, CPMC said.

Supply of cardamom from the estates/farms has come to an end and the material arriving currently is from the stocks held by the primary market dealers, who had bought earlier when the prices were low .

Export buying Prices of exportable variety have gone up above ₹800 a kg and that in turn has led to slow down in export buying. Capsules of 8mm bold are being traded between ₹1,100 and ₹1,500 a kg. During the current crop season ending in July, 17,941 tonnes have arrived against 10,430 tonnes during the same period a year ago. Sales were 17,454 tonnes against 9,925 tonnes, respectively.

The weighted average price as on Sunday was ₹618.18 a kg against ₹749.41 a kg a year ago. Prices of all graded varieties were marginally up and their prices (in ₹ per kg) at the weekend were: AGEB 980-990 ; AGB 820 - 830; AGS 790 - 800 ; and AGS -1: 770 - 780. Bulk prices ranged between ₹450–₹1,500 a kg.

Weather conditions were reportedly unfavourable as the region has been experiencing severe drought conditions for over a month now.

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