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Small cardamom prices gained last week on good buying support at auctions held in Kerala and Tamil Nadu.
The markets showed good improvement on Friday and Saturday with the individual auction average moving to above ₹650 a kg, trade sources said.
Prevailing drought conditions and the consequent delay and decline in the next crop appears to have changed the market sentiment.
All were actively buying and that in turn has aided the price rise, PC Punnoose, General Manager, CPMC, told BusinessLine .
An estimated 5-10 per cent of the plants have withered already and more would be affected if the current drought conditions remained for long, growers in Kumily area said.
As the average price crossed ₹650 a kg, exporters stayed away from the market. Last week nine auctions were held in place of 12 and the total arrivals stood at 583 tonnes against 745 tonnes the previous week.
At Saturday’s auction the average increased to ₹687.92 a kg and the individual auction average last week vacillated between ₹620 and ₹688, market sources said.
Total arrivals during the season up to April 16 were at around 26,485 tonnes and sales were at 25,545 tonnes. The individual auction average, as on April 16, stood at ₹600/kg.
Prices of graded varieties (₹/kg): 8mm bold good colour 1,000- 1,050; 7-8 mm 750-800; 6-7 mm 630-650; below 6 mm: 600. Good bulk was fetching ₹670-700, trade sources in Bodi said.
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