Exports to Kuwait helps revive cardamom prices

The start of cardamom exports to Kuwait has helped revive prices at the auctions market on Monday.

According to traders, sending consignments to markets overseas is a positive sign that it would lead more enquiries and orders, besides further pushing the prices up.

Meanwhile, the auction market at Spices Park in Puttady has registered a Rs 100 per kg rise in prices across all varieties, thanks to active buying by North Indian buyers, coupled with a private sale (farmers directly selling to dealers).

According to traders, the inventory position across the consuming markets in North India after Diwali sales was below average, prompting upcountry buyers to come to the auction market for purchase. There is also a scope for repeated orders. Traders also expect lower arrivals in the coming days as it is the fag end of the season.

The total arrival in the two trading sessions was 88.6 tonnes which realised a combined average price of Rs 3,105.26 per kg.

In the morning auction, the auctioneers Idukki District Traditional Cardamom Producers Company offered 55.9 tonnes of 268 lots, which realised an average price of Rs 3,066.31 per kg. The highest price quoted for selected lots was Rs 3,321 per kg.

In the evening session, the auctioneers Vandanmedu Green Gold Cardamom Producers Company offered 32.6 tonnes of 160 lots in which 31.3 tones quoted an average price of Rs 3,144.22 per kg. The highest price quoted for selected lots was Rs 3,407 per kg.

Trade analysts Acumen Capital Markets Ltd said that the most active cardamom January futures rose by 4.0 per cent or Rs 121.50 when last traded at Rs 3161.30 per kg on Monday.