The upsurge in the cardamom market continued on good buying support from exporters and north Indian dealers at auctions.
The individual average price on Monday increased to Rs 681.50 a kg at the CPA auction held in Bodinayakannur. About 20 tonnes of cardamom arrived and the entire quantity was sold out. The maximum price was Rs 727 and minimum Rs 628 a kg, auction sources told Business Line.
Arrivals
On Sunday, at the KCPMC, Kumily auction in Vandanmettu the entire arrival of 62 tonnes was sold out. Exporters bought 10 tonnes, Mr P.C. Punnoose, General Manager, CPMC, told Business Line.
He said that North Indian buyers were also active. Good buying support despite the upsurge in prices indicates of non-availability from other sources, he said.
The individual average price at auctions remained above Rs 670 a kg except for the Thursday auction by STCL at Bodinayakannur where the cash and carry system introduced by the auctioneers is allegedly responsible for the decline in the prices. The average price stood at Rs 651.33 last Thursday.
Total arrivals in the current season from Aug 1 to Oct 25 stood at 2,664 tonnes (2,540 tonnes) and of which 2,610 tonnes (2,356 tonnes) of cardamom were sold out.
Total arrivals in the current season from Aug 1 to Oct 25 stood at 2,664 tonnes (2,540 tonnes) and of which 2,610 tonnes (2,356 tonnes) of cardamom were sold out. The weighted average in the current season as on Oct 25 was at Rs 679.34 a kg (Rs 595.74).
Prices of graded varieties were: AGEB Rs 750-760; AGB Rs 705-715; AGS Rs 680-690 and AGS1 Rs 660-670 a kg. Prices quoted in the local market Bodinayakannur were: AGEB Rs 730-740; AGB Rs 685-695; AGS Rs 660-670 and AGS 1 Rs 640-650 a kg. Bulk was fetching Rs 650-765 a kg.
The weather conditions, at present, are unfavourble as the growing areas are experiencing dry spell.
Source : Business Line