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Small cardamom bounced back with the price touching ₹1,150/ kg at the Wednesday auction held at Puttady in Kerala’s Idukki district.
At the auction conducted by Sugandhagiri Spices Promoters and Traders Pvt Ltd, nearly 29 tonnes of cardamom arrived, and almost the entire quantity was traded. The auction average stood at ₹1,149.68/kg. The maximum price was ₹1,540/kg.
At the forenoon auction, the average was ₹1,142.83/kg. The maximum price was ₹1,547/kg, according to Spices Board sources.
Infact, after showing a marginal dip from mid-last week, the prices have started moving up from Monday afternoon, taking the individual auction average to above ₹1,100 at all the subsequent auctions, they said.
The current bullish trend in the markets could be attributed to the empty pipelines in the consuming markets, coupled with an unlikely upsurge in the arrivals in the coming days, P C Punnoose, General Manager, CPMC, told Business Line .
The current arrivals, he added, at a time when the second round of picking is at its peak, are not reflective of an above-normal crop this season because of the erratic weather conditions.
Exporters were also active as they are understood to have good orders in hand, trade sources said.
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