Comments
Good demand amid moderate arrivals has pushed up the cardamom prices last week at auctions.
The individual auction average last week ruled above ₹700 a kg except for the last Monday auction where it was at ₹667.60 due to the usual inferior quality of the material.
The auction average on Sunday touched the level of ₹767, the highest in Kerala Cardamom Processing and Marketing Co-operative’s auctions during the past one year, PC Punnoose, General Manager, KCPMC, told Business Line . Exporters were actively covering till Wednesday but after that they have slowed down following the rise in the prices, market sources in Bodinayakannur said.
An estimated 80 tonnes are said to have been bought by exporters. Upcountry buyers were also buying but not aggressively ever since the prices have started moving up, they said.
The individual auction average price, which had slipped to below ₹700 most of the days, last fortnight surged to ₹760 a kg.
Supply of cardamom from the estates/farms has come to an end and whatever material arrives at present is from the stocks held by the farmers/ primary market dealers, sources claimed.
Therefore, as the lean season has begun the market has started feeling a bullish sentiment, they said.
The trade in Kumily is of the view that the prices might stabilise at the current levels as it is claimed to be remunerative.
Prices of exportable variety has gone up to above ₹800 a kg and that in turn has led to a slow down in export buying, they said.
8mm bold capsules were being traded at ₹850-900 a kg while bold good colour bulk cardamom was being sold at ₹700-730 a kg, they said.
During the current season of the crop, which has begun officially from August 1, 2013 to March 23, arrivals stood at 17,098 tonnes against 9,916tonnes the same day last season.
The sales were at 16,640 tonnes and 9,418 tonnes respectively. The weighted average price as on March 23 stood at ₹610.60 (₹754.44).
At the Sunday auction, the arrivals increased to 96.7 tonnes from 77 tonnes and the entire quantity was sold. The maximum price was at ₹1,100 and the minimum at ₹489 a kg.
The auction average moved up to ₹766.67 from ₹700.40 a kg the previous Sunday.
Prices of graded varieties (₹/kg): AGEB 900-910; AGB 740-750; AGS 710-720 and AGS -1: 680-690.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.