The Hindu Business Line : Cardamom prices move up on buying support

The auction centres will remain closed on account of Diwali from Saturday to Tuesday. Individual average price at different auction centres also showed an increase.

Arrivals up

There was selling pressure on account of Diwali and as such the arrivals at Cardamom Processing and Marketing Centre (CPMC) Kumily on Wednesday soared to 86 tonnes, of which 82 tonnes were sold. Buyers were active. Exporters bought seven tonnes of cardamom. The maximum price improved to Rs 518 a kg, while the minimum was Rs 155 a kg. The average price at the Wednesday auction, according to Mr P.C. Punnoose, General Manager, CPMC, was Rs 325 a kg. 8 mm bold fetched over Rs 500 a kg, while 7.5 mm capsules were sold at Rs 430-450 a kg. Current bulk fetched Rs 290-310 a kg.

The active participation of north Indian buyers indicates that they have exhausted their previous stocks and wanted to beef up their inventory now, he told Business Line. The current trend is likely to continue after Diwali also for few weeks, as the arrivals during the season so far has been much less than that of last year, he said.

Pricing

Prices of graded varieties as on October 14 were AGEB Rs 450-470, AGB Rs 330-340, AGS Rs 315-325 and AGS 1 Rs 265-275 a kg.

The local market prices in Bodinayakannur on Thursday were AGEB Rs 400-410, AGB Rs 320-330, AGS Rs 280-290 and AGS 1 Rs 260-270 a kg while bulk was sold at Rs 350-400 a kg, market sources said.

Arrivals during the current season stood at 1,978 tonnes and of which 1,758 tonnes were sold. The weighted average price as on this date was Rs 339.25 a kg against Rs 235.06 a kg on this date last year, registering an increase of Rs 104.19 a kg. The total arrivals as on October 18, 2005 were at 2,670 tonnes and the sales at 2,501 tonnes.

The weather conditions in the growing regions in Kerala and Tamil Nadu continue to remain favourable, especially following the setting in of the North-East monsoon which might have a positive impact on the late crop, they said.

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