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Small cardamom prices declined as supply outstripped demand at auctions in Kerala and Tamil Nadu.
Anticipation of a comparatively good crop due to favourable weather conditions coupled with a likely decline in the prices has slowed buying. A liquidity crunch and severe labour shortage are adding to the problem, said PC Punnoose, General Manager, CPMC, Kumily.
At today’s auction in Bodinayakannur by the Cardamom Planters’ Association, the average price fell sharply from that of the previous Monday. A total of 24 tonnes arrived and almost the entire quantity was traded. The maximum price was at ₹977 a kg. The auction average dropped to ₹789.42 a kg from ₹855.73 the previous Monday.
Exporters bought 100-120 tonnes last week. Total arrivals stood at 749 tonnes last week as against 655 tonnes the previous week. The auction average for the week dropped to ₹826.27 a kg from ₹902.31 the previous week.
The individual auction average fluctuated between ₹754 and ₹865 a kg last week.
Total arrivals during the current season, as on November 4, were 7,834 tonnes and sales touched 7,659 tonnes. The individual auction average of the season was ₹1,003.02 a kg.
Prices in ₹/kg: 8mm green bold 1,100-50; 7-8 mm : 900-950 ; 6-7 mm 825-850. Good bulk was traded at ₹825-850 a kg.
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