The Hindu Business Line : Cardamom market steady

THE cardamom market ruled steady on buying support from domestic traders and prices remained at previous week's levels at auctions held in Kerala and Tamil Nadu.

As the prices were somewhat moderate, the growers were liquidating old stocks, market sources told Business Line. However, the exporters were not active, as the quality of the produce arriving the market these days did not meet their requirement, they said.

The average price in the recent auctions was Rs 343.27 at Kumily (Kerala) on May 19, Rs 320 at CPA auction at Bodinayakannur (Tamil Nadu) on May 17, Rs 380.13 in CMC auction on May 15 and Rs 382.94 in MAS auction on May 14 both at Vandanmedu.

Arrivals at these auctions were moderate. At Kumily, auction on Wednesday, the arrivals stood at 34.7 tonnes, of which, 32.5 tonnes were sold.

Total arrivals during the current season up to May 19 were at 5,178 tonnes and the sales 4,797 tonnes. The weighted average price was Rs 362.67 a kg. During the corresponding period last season, arrivals were 4,309 tonnes, sales 3,870 tonnes and the average price was Rs 564.76 a kg.

Prices of graded varieties were AGEB Rs 460-Rs 465 a kg, AGB Rs 340 - Rs 345, AGS Rs 320 - Rs 325 and AGS 1 Rs 310 - Rs 315 a kg.

Only little quantity of 8 mm and 7mm bold varieties is arriving in the market. The price of 8mm was around Rs 550 a kg.

The crop was good during the current season estimated at around 10,000 tonnes and the farmers are said to be holding back stock of an estimated 2,000 tonnes, they said.