Commodities

Quality arrivals enable cardamom prices to remain steady

V.Sajeev Kumar | Updated on November 27, 2019 Published on November 27, 2019

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Quality parameters seem to have enabled cardamom market to remain steady on Wednesday's auction at Spices Park in Puttady, without showing any fluctuations in prices.

The market was steady as in the case of previous day and heavy arrivals of 74 tonnes especially in the morning trade has not affected the momentum in prices. The entire quantity offered for sale was sold because of the quality of the crop. The arrivals was relatively stable at 86.5 tonnes in both the sessions and the combined average price was Rs2906.5 per kg.

According to traders, the market is showing a sellers predominance due to price stability, which has been witnessing for more than a week. Sellers are coming forward to liquidate their stock and the price stability which is mainly ensured by stockists, upcountry buyers, exporters who are positively working towards the sentiments.

However, an upward or downward trend in prices will definitely have a say in the auction arrivals in the coming days. Farmers have almost harvested their last round of stocks in the season and this will have an effect on arrivals, traders said.

The auctioneers South India Green Cardamom Company Ltd has offered 74 tonnes of 303 lots in the morning session which realised an average price of rs2926.56 per kg. The highest price quoted for selected lot was Rs3252 per kg.

In the afternoon trade, the auctioneers Green House, Puliyanmala offered 12 tonnes in which 11.5 tonnes realised an average price of Rs 2886.62 per kg. The highest bid for selected lots was Rs3112 per kg.

Trade Analysts Acumen Capital Markets Ltd, the most active December cardamom futures gained by Rs6.10 when last traded at Rs2850 on Wednesday.

 

Published on November 27, 2019
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