Financial Daily
from THE HINDU group of publications

Tuesday, January 23, 2001



Agri-Business | Next

Cardamom prices up on increased demand


KOCHI, Jan. 22

CARDAMOM prices increased by Rs 50 a kg last week at the auctions held in Kerala and Tamil Nadu on increased buying support.

Exporters as well as domestic buyers were seen active up to Thursday with the result the prices of all the graded varieties went up by Rs 50 to Rs 60 a kg, trading sources told Business Line on Monday.

Prices of graded varieties were: AGEB Rs 755 to Rs 765, AGB Rs 665 to Rs 675, AGS Rs 645 to Rs 655 and AGS 1 Rs 580 to 590 per kg. The average price during the week remained at Rs 645 per kg.

From Friday onwards, the prices started sliding marginally as the exporters slowed down their buying activities. North Indian buyers and other traders were also not very active with the result the prices dropped by around Rs 20 a kg on Sunday, they point ed out.

According to export sources, over 700 tonnes had been exported so far and some more quantity was expected to be shipped in the coming weeks. Export enquiries were so far good and hence the total exports this year could touch around 1,000 tonnes, they fel t.

Similarly, the upcountry demand also showed signs of rising, they said. The demand for superior quality Indian cardamom was picking up in some of the Gulf markets, they said.

A total quantity of 145 tonnes was sold last week at an average price of Rs 645 per kg. The maximum price of Rs 865 was quoted at auctions on January 19 and 20 at Vandanmedu.

The minimum price of Rs 162 per kg was also offered at Vandanmedu auction on January 19.

During the current season up to January 21, a total quantity of 3,350 tonnes was sold through auctions in Kerala and Tamil Nadu at an average price of Rs 565 per kg. During the corresponding period last year, a total 3,650 tonnes was sold at the average price of Rs 395 per kg, the sources said.

The arrivals were also steady during the week. The weather conditions were not as favourable as last month. Fifth and sixth round of harvesting were going on. The less-than-normal North-East monsoon had slightly affected the crop, they added.

A decision on the sales tax issue had yet to come, trading sources pointed out. However, one auction was held at Bodinayakanur on Sunday, when 11 tonnes were sold at an average price of Rs 634.32 per kg.

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