Commodities

Favourable climatic conditions likely to boost cardamom production

V Sajeev Kumar Kochi | Updated on October 30, 2019 Published on October 30, 2019

 

Favourable climatic conditions in the high ranges may improve arrivals to cardamom auctions on account of better output.

Majority of the traders in auctions are showing reluctance in purchase at the current higher price and keeping a wait and watch, anticipating a decline in prices on account of more arrivals. Traders pointed out that the ongoing rains are a favourable factor to boost up production.

Though the market realises better prices for the moment, the trend can be reversed at any time with the improvement in production. They expect more arrivals to the auctions in the coming weeks. However, there was a subdued upcountry demand right now, as North Indian traders are not active in the market after Diwali.

Meanwhile, the traders' expectations on the availability of uniform quality cardamom seem to be evident from the sale of the whole quantity of 26 tonnes on offer in the morning auctions conducted at Spices Park at Puttady. It is pointed out that the auctioneers, South Indian Green Cardamom Company Ltd was one among the significant auctioneers in ensuring better quality in the auctions. The average price realised was ₹2,465.79 per kg, while a particular lot has received a price tag of ₹2,865 per kg.

In the afternoon auctions conducted by Green House Cardamom Company, the quantity on offer was five tonnes with a sale of around 4 tonnes. There was also some withdrawal of lots due to low rates. The average price realised was ₹2,367.57 per kg, and the maximum amount gained by a particular lot was ₹2,466 per kg.

Hartal hits Kochi pepper trade

The absence of pepper arrivals from the terminal markets has hindered trading at Kochi centre. There was no trading as there were no arrivals in the primary markets.

According to traders, the arrivals have been affected as all the markets in the producing areas were closed yesterday due to the trade hartal.

 

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Published on October 30, 2019
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