Strong demand amid squeeze in supply lifted the individual auction average to a record for 2013-14 fiscal at last Sunday’s auction. Upcountry buyers, fearing supply squeeze bought actively, while exporters slowed down as prices are at unaffordable levels. As prices shot up, exporters withdrew from the market. They bought an estimated 30 tonnes last week.

At the Sunday auction held by the KCPMC, arrivals were 74 tonnes against 96.7 tonnes the previous week. The entire quantity was sold out. The maximum price was ₹1,123 a kg and the minimum ₹481 a kg. The auction average shot up to ₹803.09, the highest ever during the last fiscal, from ₹767 a kg the previous week.

“Decline in availability, severe drought conditions, likely delay and drop in next crop” are factors attributed to the current bullish trend in the market, PC Punnoose, General Manager, CPMC said.

At the Monday auction held by the Cardamom Planters Association at Bodinayakannur, 33.5 tonnes were traded and the average price was ₹784.20 a kg, traders said.

Prices of exportable variety have gone above ₹800 a kg and that, in turn, has slowed export buying. Bold capsules of 8 mm were traded at ₹1,000–1,100 a kg. During the current season that ends in July, arrivals are pegged at 17,561 tonnes against 10,146 tonnes during the same period a year ago.

Sales were 17,084 tonnes against 9,645 tonnes. The weighted average price as on March 30 was ₹614.07 a kg against ₹752.24 during the same period a year ago.

Prices of all graded varieties (₹/kg) at the weekend were : AGEB 970 - 980 ; AGB 810 - 820; AGS 780 - 790 ; and AGS -1: 760 – 770. Bulk prices ranged between ₹450 and ₹1,100 a kg.

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