Mumbai, October 09 (CommoditiesControl): Prices for small cardamom have been on a consistent decline, primarily influenced by harvesting pressures affecting market values. For the fifth consecutive session, prices have dropped by Rs 25-30 per kg as buyers engage in hand-to-mouth transactions following the start of arrivals.
Local traders have noted a decrease in demand from northern markets, which is exerting downward pressure on prices despite a reduction in today's arrivals. However, expectations for increased demand around Diwali, anticipated to peak mid-month, could potentially support price recovery.
Recent auction data reveals that average prices per kilogram fluctuated between Rs 2,193 and Rs 2,212, down from Rs 2,218 to Rs 2,239 the previous day. The highest price recorded fell significantly from Rs 3,085 to Rs 2,626 in the prior session.
Total arrivals for today reached 107,754 kg, a decline from 140,373 kg in the previous session, with auctions held at two centers. The offtake also decreased to 105,162 kg, down from 130,898 kg previously, attributed to a lower auction volume. Notably, offtake rose to 97.6% this session, up from 93.3% in the last, reflecting average demand coupled with higher arrivals.
Grade-specific rates have similarly decreased alongside the decline in bulk grade prices. For grades measuring 7 mm, prices range from Rs 2,140 to Rs 2,180 per kg; for grades 7-8 mm, prices are between Rs 2,340 and Rs 2,440; and for grades 8 mm or higher, prices range from Rs 2,600 to Rs 2,760.
Currently, prices are trading at the lower end of their recent broader range, with expectations that they will find support at these levels. As the harvest progresses, an increase in arrivals is anticipated, which may limit the potential for significant price surges in the near future.
0 Comments 
Post Comment 
