Commodities

Cardamom auctions continue to witness higher arrivals

V.Sajeev Kumar Kochi | Updated on November 22, 2019 Published on November 22, 2019

cardamom

Cardamom auctions at the Spices Park in Bodinayaknanur on Friday received one of the top arrivals in the recent period, totaling to 133 tonnes.

However, traders are keeping their fingers crossed on the possible impact due to more arrivals considering the declining trend in prices in the last few days. They are hopeful that the market would remain steady than showing an upward trend, thanks to the active participation of buyers from North, exporters, and stockists.

After breaching the Rs.3,000 mark in realising the average prices, there was nearly a Rs.200 per kg drop. This decline would help ensure a steady trend rather than an upward swing, traders said.

There was a negative sentiment in the market on account of the higher arrivals right from Monday, they added.  

The auctioneers Mas Enterprises Ltd, Vandanmedu offered 67 tonnes in the morning session, while the quantity on offer in the afternoon was 66 tonnes. Header Systems, Vandanmedu were the auctioneers.

According to trade analysts, Acumen Capital Markets Ltd, cardamom December futures price is showing some weakness on daily chart.

Published on November 22, 2019
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