Small cardamom continues to gain on good demand

Firmer trend continued in small cardamom prices last week at auctions held in Kerala and Tamil Nadu.

At the Cardamom Planters’ Association (CPA) auction on Monday (today) in Bodinayakannur, the individual auction average soared to ₹1,206.86 a kg. Only 10 tonnes arrived and of this 9 tonnes were traded. The maximum price was at ₹1,420.

“There is an artificially created shortage here in the market to push up the prices and there are no buyers at these inflated prices,” Ranganathan, a dealer, told BusinessLine.

Trade sources, however, attributed the firmer trend to strong demand from upcountry markets following fear of sharp fall in current crop output due to erratic monsoon rains.

North Indian dealers were actively buying on the apprehension about a likely squeeze in availability due to the unfavourable weather conditions prevailing even now, PC Punnoose, General Manager, CPMC, told BusinessLine.

Exporters were staying away from the market as the prices were ruling much above their affordable levels, they said. Good colour current bulk was being traded at ₹1,150 a kg. Arrivals at the auctions last week dropped to 583 tonnes from 705 tonnes the previous week.

Total arrivals during the season up to November 5 were at 7,364 tonnes and sales were at 6,964 tonnes.

The individual auction average for the season as on November 5 stood at ₹977.78/kg. Last week auction average was at ₹1,165.26 against ₹1,100.22 the week before.

Prices in ₹/kg: 8mm bold good colour 1,500; 7-8 mm 1,300; 6-7 mm 1,200 and below 6 mm: 1,100.

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