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Cardamom Prices Decline on Low Demand Despite Previous Week's Surge

28 Nov 2023 8:43 pm
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Mumbai, November 28 (CommoditiesControl): Cardamom prices experienced a decline following a week-long upward trend in major markets. After reaching above Rs 1,500 per kg yesterday, prices for average quality dropped below this mark today.

However, reports suggest that export demand remains low, and there hasn't been a significant uptick in domestic demand, contributing to the downward pressure on prices.

The average price per kilogram shifted from Rs 1,593–Rs 1,620 in the previous session to Rs 1,492–Rs 1,538 in the current session. The maximum per kilogram price also decreased from Rs 2,109 to Rs 2,037.

According to market reports, grade-specific rates have generally held steady. The cost of 7 mm grades is reported to range between Rs 1,500 and Rs 1,560. Prices for 7-8 mm grades fall between Rs 1,720 and Rs 1,800, while grades 8 mm and higher are priced between Rs 1,960 and Rs 2,060.

The total quantity of arrivals totaled 102,193 kg, marking a decline from the previous session's 131,296 kg. On the other hand, the total offtake increased to 96,353 kg from the previous session's 122,870 kg.

Meanwhile, the daily offtake rose from 93.6% to 94.3% compared to the previous session, indicating robust demand from stockists at the current price levels.

(By CommoditiesControl Bureau; +91-9820130172)

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