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Low arrivals lifted cardamom prices by Rs100 per kg in the auctions held at the Spices Board E auction centre at Puttady. The market was on a steady mode, realizing a better average price.
The average price realized in the auction conducted by CPMCS Ltd was Rs2411 per kg on an arrival of more than 45 tonnes. The maximum price realized for a particular lot was 2774 per kg. In the second auction conducted Cardamom Planters Association, the average price realized was Rs2345 on an arrival of 8.5 tonnes.
According to traders, growers are holding their stock which has resulted in low arrivals. In the last 10 days, prices have come down by around Rs 600 per kg and the current average is hovering around Rs 2300 per kg. The prices are expected to recover in November.
Imported pepper impacts domestic market
Arrivals of Sri Lankan black pepper have made its impact on the domestic pepper market in Kochi.
The quantity on arrival on trade at India Pepper and Spice Trade Association (IPSTA) on Thursday was 11 tonnes and the average price realized was Rs299/kg for ungarbled peper. The rates for MG1 was Rs319.
The North Indian demand was dull because of the availability of imported Sri Lankan pepper in many consuming markets, said Kishore Shamji of the Kochi based Kishor Spices said.
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