The small cardamom market witnessed a bullish trend in recent days as good demand has a slight edge over the supply.

Consequently the market remained firm on Monday at the auction held in Bodinayakannur in Tamil Nadu. At the auction conducted by the Cardamom Planters' Association (CPA) 19 tonnes of cardamom arrived and almost the entire volume traded. The auction average rose to ₹1,137.88 a kg from its previous average of ₹1,039.25 a kg.

Last week at all the auctions the individual auction average remained above ₹1,100 a kg and vacillated between ₹1,108 and ₹1,162 a kg. The weekly auction average was at ₹1,142.38 a kg.

Empty pipe lines in the consuming markets coupled with the supply not improving to the normal supply level at this point of time of harvesting has led to active coverage by upcountry buyers.

Besides the exporters were also buying and they have bought an estimated 70 tonnes last week.

All these factors have built up a bullish sentiment in the market, PC Punnoose, General Manager, CPMC told Business Line .

Meanwhile, Renganathan, a Bodi-based dealer said an artificial demand in the market has pushed up the prices and they have gone up by ₹50 a kg.

During the week nine auctions were held and the total arrivals stood at 479 tonnes and the sales were at 474 tonnes.

The prices today at Bodinayakannur were in ₹/Kg : 8mm green bold Rs1,550; 7 mm : 1,225 ; 6-7 mm 1,000. Good bulk was fetching Rs1,200 a kg. Supply of 8mm green bold was only 10-15 percent of the total arrivals, trade sources said.

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