Commodities

Absence of graded quality affects cardamom prices

V Sajeev Kumar Kochi | Updated on February 11, 2020 Published on February 11, 2020

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The non-availability of graded quality capsules impacted cardamom prices on Tuesday at Bodinayakanur auctions, registering a ₹70 per kg drop in the average price realisation.

Though the market remained steady, the graded quality for trade was limited. It was the present bulk quality that arrived more, while the bold quality lots was low, traders said, adding that the presence of bold quality will always determine the prices in auctions.

However, there was good buyer participation, both from upcountry and local markets. The rising upcountry participation is a good sign for the revival of the market, which is expected to perk up demand in the north Indian markets. The conclusion of Delhi poll and changes in the extreme weather conditions are expected to revive demand, traders said.

The market is witnessing a positive sentiment after a month-long sluggishness. This is evident in cardamom movements in the wholesale markets of Delhi and surrounding areas, traders added.

In the morning session, the auctioneers Cardamom Growers Federation offered 14 tonnes, in which 12.8 tonnes realised an average price of ₹3,591.6. The highest price quoted for selected lots was ₹4,183 per kg.

The offer made by KCPMC in the afternoon session was 36 tonnes, which realised an average price of ₹3,622. The highest price quoted by selected lots was ₹4,070.

Trade analysts Acumen Capital Markets said that cardamom March futures fell by 1.74 per cent or ₹64.40 to ₹3,633.10 per kg when lastg traded on Tuesday.

Published on February 11, 2020
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