New Delhi, April 29 (Commoditiescontrol): Cardamom prices in major markets reached an eight-month high, driven by robust demand despite increased arrivals. The surge in prices was attributed to heightened inquiries from North India and strong export demand.
Arrivals in the market slightly decreased to 123,325 kg, a marginal decline from the previous session's 123,398 kg. However, offtake witnessed a significant uptick, reaching 122,288 kg compared to 120,632 kg previously, driven by the heightened demand. With an offtake rate of 99.1%, reflecting the robust demand prevailing in the market.
The average price per kilogram soared to a range of Rs 2,284 to 2,321, marking a substantial increase from the previous session's range of Rs 1,920 to 1,927 per kg. The highest recorded price stood at Rs 3,089 per kg, showing a notable rise from Rs 3,008 per kg in the preceding session.
Grade-specific rates remained stable, with prices for 7 mm grades ranging from Rs 1,740 to Rs 1,820 per kg, Rs 1,920 to Rs 2,000 per kg for grades 7-8 mm, and Rs 2,200 to Rs 2,360 per kg for grades 8 mm and above.
In other developments, the Department of Commerce released its updated February EXIM figures, revealing an 11% increase in cardamom exports to 943 MT. However, the total exports from April to February witnessed a 27.5% decrease year-on-year, amounting to 6,443 tons.
(By Commoditiescontrol Bureau: +91-9820130172)
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