The Hindu Business Line : Rise continues in cardamom

Cardamom prices continued their upward movement at the first auction after Diwali holidays. At the auction held in Kumily by the Cardamom Processing and Marketing Company (CPMC) on Wednesday, the prices moved up by Rs 10-Rs 15 a kg. The average price was Rs 335 a kg.

According to Mr P.C. Punnoose, General Manager of CPMC, most of the estates owned by planters from Tamil Nadu are yet to re-open after the Diwali holidays and it has led to decline in the arrivals. Besides, over all quality of the capsules arrived was bad. Hence, the maximum price fetched was Rs 450 a Kg and the minimum Rs 135 a kg.

Buyers active

The 8mm bold was inferior because of faded colour. The 7.5 mm was sold at Rs 400-Rs 435 and 7 mm at Rs 375-Rs 400 a kg, while current bulk fetched Rs 290-Rs 310 a kg. However, buyers were active. Exporters bought five tonnes. The entire quantity that arrived was sold out, he told Business Line.

Total arrivals during the current season stood at 2,089 tonnes and sales at 1,853 tonnes compared with 2,942 tonnes and 2,751 tonnes, respectively, on the same date last season. The weighted average price in the current season has gone up to Rs 337.99 a kg from Rs 233.93 a year ago.

The prices of graded varieties were: AGEB Rs 435-Rs 450; AGB Rs 320-Rs 330; AGS Rs 305-Rs 315 and AGS 1 Rs 260-Rs 270 a kg. The prices for these varieties in the local market in Bodinayakannur on Thursday were AGEB Rs 400-Rs 410; AGB Rs 300-Rs 310; AGS Rs 290-Rs 300 and AGS 1 Rs 250-Rs 260 a kg. Current bulk was fetching Rs 280-Rs 340 a kg.

Export buying so far during the season has been thin probably because of the high prices, market sources said. Ideal climatic conditions prevailed in the growing areas of cardamom and if it persisted there might be some improvement in the late crop, they added.

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