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G.K. Nair

Kochi , Aug. 18

CARDAMOM prices ruled at lower levels during the week despite good buying support.

At the same time, arrivals were heavy at auctions in Kerala and Tamil Nadu. "As the prices for all varieties were at lower levels the entire quantity was nearly sold out," market sources in Bodinayakannur and Kumily told Business Line.

Exporters were also active as export quality capsules were available at competitive prices and there were plenty of enquiries from overseas markets. Hence, exports this month are expected to touch 50 tonnes against 16 tonnes last month, they said.

The low prices of fresh and good grade capsules seem to have enthused even North Indian traders to buy. Cardamom arrivals at Kumily on Wednesday stood at 60 tonnes, of which exporters bought 6 tonnes. The maximum price obtained was Rs 441 a kg for 8 mm bold capsules, while the running bulk was sold at Rs 245 - 255 a kg, Mr P.C. Punnoose, General Manager, Cardamom Processing and Marketing Company (CPMC) said.

The start of the demand season in North India was also reflected in the buying activities. However, this had not affected prices, probably because of the heavy arrivals, he said.

Favourable weather conditions in the cardamom growing tracts would result in a good crop this year. Anticipating a drop in prices owing to increased availabilityin the coming weeks, farmers were selling their harvest now, market sources said.

Total arrivals during the current season from August 1 stood at 349 tonnes against 547 tonnes in the same period last year. The weighted average price during the season stood at Rs 240.08 a kg against Rs 368.65 a kg.

Normally, prices rule high in the initial weeks of the season. But this year has been different, they said.

The prices of graded varieties as on August 13 were AGEB Rs 335 - Rs 345; AGB Rs 230 - Rs 240; AGS Rs 220 - Rs 230; and AGS 1 Rs 210 - Rs 220 a kg.

Meanwhile, the Kerala Cardamom Processing and Marketing Company would shift its auctions from Bodinayakannur (Tamil Nadu) to Nedumkandam (Idukki district, Kerala) from next Sunday, auctioning company sources said. As one-third of the arrivals at Kumily and Vandanmedu auctions were from the Udumbanchola Taluk, with headquarters at Nedumkandam, the shift would be beneficial to the growers and traders, they said.

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