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Cardamom prices gained last week on export demand amid good arrivals at the auctions. Moderate buying by upcountry dealers also aided the uptrend. Exporters bought available exportable grade capsules and that, in turn, pushed prices up. They are said to have purchased an estimated 70 tonnes of cardamom last week, market sources in Bodinayakanur said.
Good capsules of 7mm and above were fetching ₹775 a kg and above, while 8mm bold was traded at ₹850-875 a kg. Non-availability of good quality material from Guatemala is the reason for export enquiries.
According to the trade, the next crop in Guatemala is reported to be lower. Other grades arrived in the market are being bought by upcountry dealers in view of the lean season ahead.
Shortage of sufficient quantity of exportable grade capsules is being felt. Cardamom growing tracts in Kerala’s Idukki district have received good rains on Sunday. According to growers, if another shower is received in the region, it could help advance the arrival of the next crop to June.
Individual auction average price crossed the ₹700-a-kg mark last week. Harvesting of the current season is over. No material is coming from the estates now and whatever capsules arrive, currently, are from the stocks held by growers and primary market dealers, trade sources in Kumily said. According to them, ever since prices showed an uptrend, some of the growers started releasing their stocks and it reflected on the arrivals.
During the current seasonfrom August 1, arrivals are 15,638 tonnes against 8,849 tonnes during the same period a year ago. Sales are 15,241 tonnes against 8,389 tonnes.
The weighted average price as on March 2 stood at ₹602.93 a kg ( ₹766.33) in the same period a year ago). At the Sunday auction, arrivals decreased to 88 tonnes from 97 tonnes the previous Sunday and almost all the entire quantity was sold. The maximum price was ₹991 and the minimum ₹389. The auction average increased to ₹694 (₹666), PC Punnoose, General Manager, CPMC said.
Prices of all graded varieties (₹/kg): AGEB 850-860; AGB 690-700; AGS 660-670 and AGS -1: 630-640.
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