Commodities

Cardamom afternoon auctions called off due to poor arrivals

V Sajeev Kumar | Updated on February 12, 2020 Published on February 12, 2020

The cardamom market is witnessing a slower demand and a subdued sales   -  The Hindu

For the second time in the current harvest season, poor cardamom arrivals have forced the auctioneers to cancel the auctions in the afternoon session at Puttady.

Earlier, on February 4, the auctioneers had canceled one trading session due to the lower arrival of the crop.

 

Traders pointed out that reduced arrivals are an indication of the end of current harvest. The starting of the off-season would extend up to June and the emerging situation may create a scarcity of capsules resulting in a gradual increase in cardamom prices, traders said.

The next crop season is expected to start by July, but it also depends on the intensity of summer. If the temperature is harsh, the starting of the season may be delayed. However, intermittent rains during the period may help for a timely commencement of the next harvest, traders added.

The quantity offered in the morning trade by Idukki Dist Traditional Cardamom Producing Company was 26 tonnes. The market is likely to be stable especially with the revival in upcountry buying, traders said.

Trade analysts Acumen Capital Markets said that most active cardamom March futures fell by 2.2 per cent or Rs 81.6 to Rs 3615.9 when last traded on Tuesday. The March futures price is showing some weakness on the daily chart.

Published on February 12, 2020
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