Commodities

Strong buyer support lifts cardamom prices

Our Bureau Kochi | Updated on November 25, 2019

Active buyers’ participation especially from North India has lifted cardamom prices by Rs50 kg across all categories in the auctions held at Bodinayakanur.

According to traders, the lively presence of North Indian buyers shows that there was less stock in the upcountry markets, which is a good sign. Besides the upcountry demand, exporters and stockists also ensured a good participation to boost its sales. It is pointed out that the renewed buyers support would keep the market steady.

The rains in the growing regions in the last two days have not made much impact on its arrivals, as the quantity offered in the two sessions was above 100 tonnes.

Of the total quantity 109 tonnes on offer, the auctioneers Vandanmedu Green Gold Cardamom Producer Company offered 51 tonnes in the morning session. There were 242 lots and particular lots realized an average price of Rs2,931.25 per kg. The highest bid was Rs3,147 per kg.

In the afternoon trade, the quantity offered by the auctioneers Idukki District Traditional Cardamom Producer Company was 58 tonnes. The average price realized was Rs2,930.61 per kg and the maximum price received for particular lots was Rs3,188.

It may be recalled that the market in the fag end of last week had maintained the prices, despite showing a downward trend at the beginning of the week. Last week, the prices had moved up by around Rs 200 per kg due to increased arrivals.

S B Prabhakar, a cardamom planter, Pambadampara Estate in Idukki said that the size of the capsules is gradually coming down. The premium for 8B capsules increased this week. With the approaching winter, it is expected that premiums for bolder varieties to strengthen during the coming weeks.

According to trade analysts, Acumen Capital Markets Ltd, the most active cardamom December futures rose by 4 per cent or Rs110.90 when last traded at Rs2,885.80 per kg on Monday.

Published on November 25, 2019

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