Cardamom rules steady on limited activitiesUpdate: 12/4/2013
The cardamom market ruled steady last week on limited activities due to holidays on account of Holi and Easter. Auctions were not held from Thursday to Sunday due to Easter holidays
On the other hand, in the wake of Holi there was no trading activities in the upcountry markets and hence north Indian buyers were inactive. Thus, overall, the activities were limited last week, market sources told Business Line.
However, exporters were active as they were having orders/good enquiries from overseas markets and an estimated 40 tonnes of good colour bold capsules were bought by them. Superior quality capsules of 7mm and above were bought at Rs 800-825-850-875 a kg.
The individual auction average was ruling below Rs 700 a kg and vacillating between Rs 630 and Rs 695 a kg for over three weeks now. The harvesting of the current crop is over now. Whatever material arrives at the market now is of stock held by the farmers.
The market will become active only this week and given the drop in output the prices are expected to remain firm in the coming days, they claimed.
At the Wednesday auction conducted by the CPMC total arrivals stood at 61.4 tonnes and almost the entire quantity was sold. The maximum price was at Rs 969 and the and the auction average was at Rs 644.46 showing a marginal decline from the average price of Rs 668.85 on the previous Sunday, P.C. Punnoose, General Manager, CPMC, told Business Line.
Total arrivals and sales during the current season from Aug 1, 2012 to March 27 were at 10,146 tonnes(15,385 tonnes) and 9,645 (14,922 tonnes). The weighted average price as on March 27 stood at Rs 752.24 against Rs 599.62 as on the same date last year.
Prices of graded varieties (Rs/kg): AGEB 930-945; AGB 675-685; AGS 655-665 and AGS -1: 645-655.