The availability of fresh and quality cardamom has ensured increased participation of dealers in the auctions held at Bodi on Friday.

The market was strong and steady and surged by Rs 100 a kg. However the arrivals were low at the auctions and traders raises concern on the future stock because of low crop in the season. The market is also on a holiday mood on account of the Diwali.

 The average price realised in the morning auction conducted by MAS Enterprises Ltd was Rs 2506 a kg and the quantity on offer was 32 tonnes. A particular lot has realised Rs 3002 a kg. There were 179 lots in the auction.

In the afternoon auction conducted by Header, the average price realised was Rs 2468. The quantity on offer was 30 tonnes.

Traders pointed out that cardamom prices have come down by around Rs 600 a kg in the last 10 days and the current average is around Rs 2300 a kg. The arrivals have also shown a downward trend this week.

Sluggish activity in pepper trade

Low demand and a sluggish activity in the pepper trade has brought down the prices at the India Pepper and Spices Trade Association (IPSTA) on Friday.

The closing rate was at Rs 298 a kg for ungarbled pepper and around nine tonnes were sold. MG1 garbed sold at Rs 318 a kg.

Kishore Shamji of Kishor Spices said that buyers seem to be on a wait and watch mode anticipating a further decline in prices. Kerala based importers are focussing on imports at an MIP of Rs 500 a kg and selling in the domestic market at below the import price. This shows that they are importing at below MIP rates and the government should look into it, he said.

The morning pepper trading was delayed following Dhanteras festival at Kochi market.

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