Small cardamom prices declined on Monday after remaining steady last week on decline in quality at auctions held in Kerala and Tamil Nadu.
Anticipation of summer rains this week has led to slow-down in buying of late, Ranganathan, a Bodinayakannur dealer, told BusinessLine . But the prices of graded varieties remained almost unchanged today, he said and added, “if the rains failed to arrive as predicted then the market might become bullish next week.”
As the prices are vacillating between ₹950 and ₹1,000 a kg everybody is buying to meet their immediate requirements only, PC Punnoose, General Manager, CPMC Kumily, said.
Exporters have also slowed down last week buying only around 70 tonnes, he said.
Meanwhile, at the auction conducted by the Cardamom Planters Association (CPA), Santhanpara in Bodinayakannur today, the prices dipped slightly. Of the 31 tonnes arrived here, 21 tonnes were traded. The maximum price stood at ₹1,103 a kg, while the auction average has fallen to ₹931.23 (₹970.34).
The current season’s picking has almost come to an end with around 95 per cent of the crop having harvested by now, they said.
Total arrivals last week increased to 653 tonnes from 593 tonnes the week before.
The individual auction average has moved up slightly to ₹980.05 a kg from ₹979.25 the previous week. Total arrivals during the current season as on February 24 were at 18,568 tonnes and sales were at 18,104 tonnes. The individual auction average of the season was at ₹963.70 a kg.
Prices of graded varieties (₹/kg): 8mm green bold 1,300-1,325; 7-8 mm: 1,080-1,100; 6-7 mm 980. Good bulk was being traded at ₹980/kg.