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Given the declining price trend, cardamom traders foresee a steady market in today’s auction in Puttady in Idukki district. The prices of the commodity are now hovering in the range of Rs 3,000 per kg.
According to traders, this is an ideal price as far as cardamom trade is concerned which is expected to perk up demand especially from upcountry buyers as well as and local business community. The average price realised in the trading session on Thursday had reduced to Rs 3,175 per kg. A genuine demand was absent in the market because of the higher price of cardamom, forcing upcountry buyers to stay away.
It was the local buyers who supported the market when it showed a rising trend, but traders say that more than 60 per cent of such businesses focus on re-pooling.
In the morning session, the auctioneers SIGCCL offered 42.83 tonnes in 207 lots, while the offer made by Green House Auction in the afternoon trade was 7 tonnes.
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