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Small Cardamom Prices Continue To Rise On Tight Availability

22 Jul 2019 5:31 pm
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MUMBAI (Commoditiescontrol) - Upsurge in small cardamom prices continued throughout last week and even at today's auctions currently under way in Bodinayakannur in Tamil Nadu.

The reason attributed to the soaring prices is tight availability at present, which, according to Mr P C Punnoose, General Manager, CPMC, Thekkady, is a "temporary phenomenon". The bullish scenario is likely to continue for some time as the next crop is not only going to be small but also it would be delayed, he said. It is expected to hit the market by the first week of September, he claimed.

At today forenoon auction the arrivals stood at 6 tonnes while that in the afternoon auction was around 14 tonnes.The auction average in the afternoon auction was at Rs3,682 a kg at 4.30 p.m.The maximum price in the forenoon was at Rs3,930 a kg while the auction average was at Rs3,535.08 a kg.

As a result, the prices are ruling high and consequently the individual auction average has been vacillating between Rs3500 and Rs3900 a kg from last Tuesday on-wards till today, market sources said.

Availability of 8mm bold capsules is very tight and hence it is being traded at Rs4,400 a kg in Bodinayakannur, Mr Ranganathan, a major dealer said.

The growing areas have been receiving moderate rains during the past five days, growers said.

No export buying was taking place following the sharp increase in the prices, market sources said.

The prices of graded varieties shot up on tight availability in Bodinayakannur and that were today at (in ₹/Kg) : 8mm good green colour bold 4,400: 7 - 8 mm 4,000 : 6-7 mm 3,600. Good bulk was being sold at Rs3,650-3,700 a kg.

(By Commoditiescontrol Bureau)

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