Commodities

Cardamom auctions lose momentum in afternoon trade

V Sajeev Kumar Kochi | Updated on November 07, 2019 Published on November 07, 2019

Cardamom market could not sustain the price momentum in the afternoon auctions on Thursday due to lower participation from major buyers.

The market was steady in the morning with an average price realisation of Rs 2,707 per kg at the auctions held at Spices Park in Puttady. The afternoon trade began on a strong note, but towards later part, the market was down by nearly Rs 50-60 per kg.

According to the traders, major buyers catering to northern part of the country was not aggressively buying from the market. The different qualities of cardamom traded in the auctions was also impacted the market. Also, the expected arrivals on tomorrow’s auctions on a higher note also affected the sentiments.

The quantity on offer in the morning auctions conducted by Cardamom Processors Association, Santhanpara was 15 tonnes. There were 112 lots and the maximum price realised by one of the lots was Rs 2,889 per kg.

Of the 39 tonnes that arrived for afternoon auctions, the average price realised was Rs 2,675 per kg. There were 217 lots and particular lot garnered a maximum price of Rs 2,919 per kg. The auctioneers were CPMCS, Thekkady.

Pepper prices Rs 3 up in Kochi trade

A good demand lifted prices of black pepper by Rs 3 in Kochi trade on Thursday. The average price realised was Rs 308 per kg on an arrival of 15 tonnes for transactions and the market was firm. New pepper (quality with high moisture) was trading at Rs 293 per kg and MG1 grade garbled at Rs 328 per kg.

According to Kishore Shamji of Kishor Spices, arrivals to the market in the coming days are expected to shrink as both importers and farmers have started holding their stock on anticipation of a further increase in prices.

If government imposes restrictions on the imports, Shamji said that pepper prices would have gone up earlier. In India, the domestic demand starts from Vinayaka Chathurthi followed by Navarathri, Diwali and New Year.

Published on November 07, 2019
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