Commodities

Quality impacts average cardamom price realisation

V Sajeev Kumar Kochi | Updated on November 28, 2019

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The average price realisation in cardamom auctions reported a Rs10-20 per kg drop on Tuesday due to quality of the crop.

Prices were little bit lower due to the availability of quality capsules even though the market remained steady and strong at the auctions in the Spices Centre at Puttady. There was a subdued demand from exporters mainly catering to the Gulf markets due to the availability of lower quality cardamom, traders said.

The market was relatively stable as the quantity on offer in both the sessions was 80 tonnes, realising a combined average price of Rs2921.8 per kg. In the morning session, the total quantity offered by the auctioneers SpiceMore Trading Company was 46 tonnes of 231 lots which received an average price of Rs2928.84 per kg. The highest price quoted for selected lots was Rs3162 per kg.

In the afternoon session, Sugandagiri Spices Promoters and Traders offered 33 tonnes of 180 lots which realised an average price of Rs2914.93 per kg. The highest bid for selected lot was Rs3206.

According to market participants, the bullish trend in prices likely to continue till December due to low estimated crop.

Trade analysts, Acumen Capital Markets Ltd said that the most active cardamom December futures fell by 2 per cent or Rs57.40 per kg when last traded at Rs2820 per kg on Tuesday.

Published on November 26, 2019

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