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Cardamom auctions continue to witness low arrivals on Friday on account of a holiday mood, even as it revived the hopes for a strong market at Bodinayakanur as in previous day.
According to traders, 40 per cent of the cardamom owners and 90 per cent of the workers are Tamil oriented and they are staying away from the market due to Pongal holidays which was the main reason for limited arrivals in the last few days. Normal operations in the auction market are expected to resume only by Monday.
Meanwhile, a dry and humid weather prevailing in cardamom growing tracts and the absence of a sufficient shower in the last 40 days is likely to boost the sentiments in the market, which will have a reflection on prices, traders said.
The prices on Thursday had witnessed a boom, thanks to a rising online sales and futures market and rising pressure from local buyers. Traders expect a similar trend to continue today. Though the market is going for a lean month, there are expectations for one more round of crop in the wake of a final round of harvest in this season.
The total quantity offered today was 51 tonnes. In the morning session, the auctioneers' GreenHouse Cardamom offered 10.46 tonnes. In the afternoon trade, the auctioneers South Indian Green Cardamom Company Ltd offered 41.35 tonnes.
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