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Small cardamom markets witnessed a by and large steady trend with marginal fluctuations throughout last week at auctions held in Kerala and Tamil Nadu.
However, the prices showed a slightly firmer trend at the auction conducted on Monday (FN) by the Cardamom Planters Association (CPA) Santhanpara in Bodinayakannur.
A total of 14.6 tonnes of cardamom arrived and almost the entire quantity was traded. The auction average moved up to ₹1,019.16 a kg from ₹1,005.55 a kg the previous Monday. The maximum price was at ₹1,413.
The trend is attributed to the unpredictable weather conditions prevailing in the main growing region in Idukki district.
The climatic conditions this year have been erratic so far and hence apprehensions about a decline in the current crop continue to exist and that in turn is influencing prices, PC Punnoose, General Manager, CPMC, Kumily told BusinessLine .
He said arrivals at this time of the season used to be much higher earlier and this phenomenon is building a bullish sentiment in the market.
At the same time, the pipelines in the consuming centres in India and abroad, mainly Saudi Arabia, are empty, he said.
Exporters were active and bought around 40 tonnes last week, trade sources in Bodinayakannur said. Last week arrivals, they said, increased to 475 tonnes from 434 tonnes the week before.
The individual auction average dropped to ₹1,023.76 a kg from ₹1,074.81 a kg a week earlier.
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