Mumbai, July 16 (CommoditiesControl): Small cardamom prices have declined for the third consecutive session, driven by a lack of buying activity at higher levels despite a decrease in arrivals. Exporter inquiries have also dwindled due to container issues, further weighing on prices. However, with the onset of the wedding season in North India, demand is expected to rise, potentially leading to higher prices.
The average price per kilogram fell to Rs 2,121-2,130, down from Rs 2,219-2,276 per kilogram the previous week, reflecting average demand today. The highest price per kilogram dropped to Rs 2,512, compared to Rs 2,615 in the previous session. Last week, good rains were reported in the major cardamom-growing regions of Kerala and Karnataka, aiding crop development.
Arrivals decreased to 45,444 kg from 67,272 kg as sellers remained inactive at lower price levels. The offtake was reported at 41,878 kg, down from 63,236 kg in the previous session. The offtake rate fell to 92.2%, down from 94.0% in the previous session, due to high demand. This marks the first time in a month that the offtake rate has been below 95% for three consecutive sessions, indicating slow buying activity.
Meanwhile, export figures for May showed an increase. Exports were reported at 714 tons, up 21% year-on-year, while imports were down 62%, totaling 366 tons.
Grade-specific rates also declined in response to the fall in bulk grade prices. Prices for 7 mm grades ranged between Rs 2,080 and Rs 2,160 per kilogram, Rs 2,280 to Rs 2,360 for grades 7-8 mm, and Rs 2,480 to Rs 2,660 for grades 8 mm and above.
(By CommoditiesControl Bureau: +91-9820130172)
0 Comments 
Post Comment 
