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Cardamom prices are likely to continue at a steady pace as arrivals to the auctions, in comparison to previous weeks, have started to decline.
The quantity on offer in auction number 26, to be conducted by Sugandagiri Spices Promoters and Traders at Bodi, was around 26 tonnes, while in auction number 27, to be conducted by SMTC, Kumily in the afternoon, it was 29 tonnes.
The traders foresee a declining trend in prices as the major purchases for the Diwali season, from the upcountry market, was almost over.
Meanwhile, the average price realised in the Tuesday morning auction, conducted by the Idukki District Traditional Cardamom Producer Company, was Rs 2222.19/kg on an arrival of around 30.99 tonnes and around 30.22 tonnes were sold. There were about 186 lots. The maximum price realised was Rs 2605/kg.
In the second auction conducted by VGCPC Ltd in the afternoon, the quantity arrived was 12 tonnes of which around 11 tonnes were sold. The average price realised was Rs2293/kg.
Pepper trade on a low note
The pepper trade in Kochi was on a low mode in the morning due to the bank strike. The quantity on offer was around 10-15 tonnes. Sellers quoting Rs305/kg for ungarbled pepper while buyers are quoting below Rs300 since imported Sri Lankan pepper available in the upcountry markets of Delhi, Mumbai, Chennai, Japan, Indore etc at Rs275-280/kg delivered there with GST.
Therefore the Kochi market may decline due to lack of demand and in the absence of buyers, said Kishore Shamji of Kishor Spices.
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