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Lower arrivals seem to have positively affected the sentiments in cardamom auctions on Friday, registering a ₹50 per kg increase on all varieties.
According to traders, the market witnessed lower arrivals at 65 tonnes and a humid climate in the growing regions has also affected sentiments positively. The online market was also up by ₹100 per kg in the whole day.
The market is witnessing lower arrivals at the end of this harvest season and the trend is expected to continue in the coming days. The North Indian demand was also on a lower note without any aggressive buying. The local buyers from Kerala were active. Export demand was subdued at these higher prices which realised a combined average price of ₹3,874.06 per kg in the auctions at Spices Park in Puttady.
In the morning session, the auctioneers Cardamom Planters Association, Santhanpara offered 9.2 tonnes of 66 lots which realised an average price of ₹3,862.26 per kg. The highest price quoted for selected lots was ₹4,186 per kg.
In the evening trade, Cardamom Planters Marketing Cooperative Society, Thekkady offered 55.9 tonnes of 233 lots which realised an average price of ₹3,885.87 per kg. The highest price quoted for selected lots was ₹4,295 per kg.
Trade analysts Acumen Capital Markets said that the most active cardamom February futures rose by 4 per cent per cent or ₹153 to ₹3,979.80 when last traded on Friday
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