The small cardamom gained on squeezed supply and uncertainty over the arrival of the new crop at auctions held in Kerala and Tamil Nadu.
Thin arrivals, of late, coupled with uncertainty over the arrival of the new crop have pushed the prices up, P C Punnoose, General Manager, CPMC told Business Line . He said the new crop is expected to trickle in from June end.
The market is showing a firmer trend on thin arrivals and limited availability of quality material at the afternoon auction held in Bodinayakannur today, Ranganathan, Bodi dealer said.
Arrivals last week dropped to 264 tonnes from 392 tonnes the previous week. Auction average moved up to 911.43 a kg from ₹866.06 a kg the previous week. Exporters were covering and they bought an estimated 40 tonnes last week.
Total arrivals during the current season up to June 3, were at 18,215 tonnes and the sales were at 17,304 tonnes. Individual auction average for the season as on June 3 was at ₹1,111.51 a kg.
Prices today at Bodinayakannur, the main trading hub for the aromatic spice were (in ₹/kg) : 8mm bold 1,250; 7 -8mm 1,125; 6-7mm 900-925 ; below 6 mm 825. Medium bulk was being traded at ₹950-1,000 a kg.
The weather conditions in the growing region were favourable with good rains following the onset of the south-west monsoon.