Commodities

Cardamom steady at Puttady auctions

V Sajeev Kumar Kochi | Updated on March 05, 2020

Amidst lower arrivals, cardamom prices remained unchanged at Puttady auctions on Thursday. Auctioneers SpiceMore Trading Company offered 22.2 tonnes for an average price of ₹2,627. Of this, the quantity sold was 21.3 tonnes and selected varieties quoted a maximum price of ₹3,178.

According to traders, upcountry and local buyers are active in the market, while exporters’ demand remained muted because of lower quantity offered. Low arrivals forced the cancellation of auctions in the afternoon session.

Traders said the growing regions are getting scattered rains. The lower arrivals are a pointer to the end of the current harvest season. However, traders believe that stocks are being liquidated.

Trade analysts Acumen Capital Markets said the March futures fell by 3.8 per cent, or ₹104.5, to ₹2,583 at close on Wednesday.

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Published on March 05, 2020
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