Commodities

Cardamom trade looks at buyer consensus on prices

Kochi | Updated on February 19, 2020 Published on February 19, 2020

Cardamom trade seems to be looking at creating a consensus among buyers on prices to maintain stability in the market.

According to traders, there is little optimism in the market because of price volatility in this crop season. A consensus on prices will ensure the active participation of all stakeholders in the auctions.

However, they were of the view that it would be difficult to maintain price stability unless there is some genuine demand and sales happening in consuming centres.

The erratic weather in the growing regions also pose a concern with the mercury shooting up to 33 degrees Celsius during daytime, which will affect productivity. If temperatures go up further, it will be bad news.

Meanwhile, cardamom prices remained stable at Bodinayakanur auctions on Wednesday on account of minimum buyer participation.

According to traders, there was no declining trend in average price realisation. The quantity offered in the two trading sessions was 50.3 tonnes and the combined average price was ₹3,264.

In the morning session, auctioneers Vandanmedu Green Gold Cardamom Producer Co offered 19.3 tonnes, in which 18.5 tonnes realised an average price of ₹3,277.64. The highest price quoted for selected lots was ₹3,783.

The offer made by Idukki Dist Traditional Cardamom Producers Company was 31 tonnes and the average price realised was ₹3,251. The highest price quoted for selected lots was ₹3,706.

Trade analysts Acumen Capital Markets said cardamom March futures fell by 0.33 per cent or ₹10.5 to ₹3,130 at close on Wednesday.

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Published on February 19, 2020
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