Commodities

Upsurge continues in cardamom on demand

GK Nair Kochi | Updated on January 16, 2018 Published on October 31, 2016

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Upsurge continued in the small cardamom markets on good demand resultant from the apprehensions about a possible shortage of the aromatic spice this season following a forecast of sharp decline in output.

Consequently, the average price at individual auctions held in Kerala and Tamil Nadu crossed ₹1,100 a kg level from Wednesday (afternoon auction) onwards, trade sources said. The average of other auctions held from Monday remained above ₹1,000, they said.

The Cardamom Planters Association (CPA) has not held its auction today forenoon at Bodinayakannur. However, the afternoon auction would be held.

“The second round of picking is currently under way and it might end by mid November. Third round will commence by next month end and may last till end of December and with this the main harvesting exercise is likely to end given the past and prevailing weather conditions,” PC Punnoose, General Manager, CPMC, told BusinessLine.

Consequent to the erratic weather, fruit formation in the pinnacles was sparse and as a result the size of the capsules has become bold. Total arrivals at the auctions consisted of 20 per cent of 8 mm bold, 40 per cent 7-8 mm and the balance 40 per cent below 7 mm capsules.

Upcountry dealers were actively covering while the exporters have slowed down following rise in the prices, trade sources in Bodi said. Exporters have bought somewhere between 60 and 80 tonnes. Good colour current bulk was being traded at ₹1,150 a kg.

Arrivals at the auctions last week decreased to 705 tonnes from 745 tonnes the previous week. Total arrivals during the season till October 28 were at 6,782 tonnes and sales were at 6,396 tonnes.

The individual auction average for the season as on October 28 stood at ₹963.15 a kg. Last week, auction average was at ₹1,100.23 against ₹1,029.16 a kg the week before.

Prices in ₹/kg: 8mm bold good colour 1,350-80; 7-8 mm 1,150-1,200; 6-7 mm 1,050 and below 6 mm: 925.

Published on October 31, 2016
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