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Small Cardamom Prices Stable Amid Strong Festive Demand; Arrivals Drop

13 Jan 2025 6:27 pm
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Mumbai, January 13 (Commodities Control): Small cardamom prices have remained stable, maintaining a five-year high, driven by stronger festive demand. The current price range, between Rs 3,099 and Rs 3,131 per kilogram, reflects little change from the previous session's range of Rs 3,105 to Rs 3,121. However, prices have shown a slight decline from the highest recorded value of Rs 3,334 per kilogram, down from Rs 3,444 in the prior session.

Auction data highlights that arrivals fell drastically due to ongoing festivals, which has contributed to a tighter supply. In the latest auction, just 355 lots were sold across two centers, a significant drop from the 583 lots sold in the previous session. The total arrivals for the day were 77,357 kg, a sharp decrease from 161,006 kg in the last auction. As a result, offtake also decreased from 159,158 kg to 75,625 kg, reflecting a slight decline in the offtake rate from 98.9% to 97.8%, indicating continued strong demand despite lower supply.

Grade-specific prices remained stable, with prices for grades measuring 7 mm ranging between Rs 2,820 and Rs 3,000 per kilogram. Grades between 7-8 mm are priced between Rs 3,160 and Rs 3,200, while the 8 mm and higher grades are commanding prices between Rs 3,340 and Rs 3,600 per kilogram.

Looking ahead, market experts expect prices to continue their upward trend due to ongoing strong demand, particularly in anticipation of Ramadan. With the supply remaining limited and festive demand maintaining pressure on prices, further price increases are expected in the coming weeks. Despite the stability observed in today’s session, the market’s outlook remains bullish due to the ongoing demand-supply imbalance.


       
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