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After crossing the ₹1,100 a kg mark, small cardamom started slipping from Friday on a change in market sentiment following incessant rain in Kerala’scardamom growing region for three days. The emergence of favourable weather conditions, of late, has resulted in a slightly bearish sentiment in the markets. And yet, prices are expected to hover around ₹1,000 a kg, PC Punnoose, General Manager, CPMC, told Business Line .
The Cardamom Planters’ Association, Santhanpara, which had suspended its auctions for over a month, resumed them on Monday FN at Bodinaykannur. Of the total arrival of around 19 tonnes about 18 tonnes were traded. The auction average stood at ₹1,005.55 a kg. The maximum price was ₹1,378 a kg.
Exporters have good export enquiries but are waiting for prices to stabilise and arrival of exportable grade (7mm and above) capsules to pick up, said market sources in Bodinayakannur. Inventories in Saudi markets are reportedly empty.
Arrivals during the first week of the season stood at around 434 tonnes as against 391 tonnes in the last week of the previous season. The weekly auction average was at ₹1,074.18 a kg.
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