Covid uncertainty hits cardamom auctions

V.Sajeev Kumar Kochi | Updated on June 10, 2020

The Covid uncertainty in many upcountry destinations seems to be impacting cardamom auctions, as the market has been witnessing a sluggish buying.

The sales movement was slow and the upcountry buying was spread out to many buyers. The worsening situation of the pandemic in many centres has turned out to be a problem as far as cardamom sales are concerned, traders said.

The prices in Bodinayakanur auctions on Wednesday were down by ₹20 per kg, amid a steady arrival of 50 tonnes.

According to traders, 99 per cent of the offered quantity was farm produce. Of this, 80 per cent was carryover stock from the last crop season. This has created an impression of an old stock and that affected the sentiments.

Besides, rumours of consistent arrivals in the market have made the buying process a bit slow, traders said.

According to auctioneers CPMCS, the average price realisation was ₹1,658 per kg and some selected lots garnered a maximum price tag of ₹2,377.

Published on June 10, 2020

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