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Strong buyer support lifted cardamom prices by Rs50 for all categories in the auctions, after registering a drop in the previous day. The auctions conducted at Bodinayakanur on Friday witnessed one of the top arrivals in the recent period, totalling 133 tonnes.
Though the market showed a downward trend in the last two days, it regained strength with the strong support of buyers especially exporters, North Indian and stockists. It shows the strength of the market even at the time of higher arrivals, traders said.
Earlier, in the beginning of the trading session, traders apprehend that there could be a possible decline due to higher arrivals following a negative sentiment in the previous day. However, the market remained strong and steady.
The auctioneers Mas Enterprises Ltd, Vandanmedu has offered 67 tonnes in the morning session, in which the average price realised was Rs 2,846 per kg. There were 306 lots and selected lots received a maximum price of Rs 3,271 per kg.
The quantity on offer in the afternoon was 66 tonnes and Header Systems, Vandanmedu was the auctioneers. The average price realised was Rs 2,876 per kg.
According to trade analysts, Acumen Capital Markets Ltd, cardamom December futures price is showing weakness on the daily chart.
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