Mumbai, January 21 (CommoditiesControl): After a two-session decline, small cardamom prices experienced a slight increase today, supported by strong demand and the auction being held at a single location. With Ramadan demand anticipated to rise, prices are expected to remain supported in the coming weeks.
The average price per kilogram today was reported between Rs 3,040, compared to Rs 2,999 to Rs 3,028 in the previous session. The highest price recorded was Rs 3,530 per kilogram, slightly higher than the previous session's Rs 3,482.
The auction volume was lower than usual, with arrivals totaling 52,716 kg, a decrease from the previous day's 144,358 kg. The auction sold approximately 204 lots, a significant drop from the 501 lots sold the day before. Offtake decreased slightly, from 139,188 kg to 51,410 kg, but the off-take rate remained high at 97.5%, indicating strong demand as it stayed above 95%.
Grade-specific quotes remained stable. For grades measuring 7 mm, prices ranged from Rs 2,820 to Rs 3,000 per kilogram. Grades between 7-8 mm traded between Rs 3,160 and Rs 3,200 per kilogram, while 8 mm and above were priced between Rs 3,340 and Rs 3,600 per kilogram.
While prices showed a slight dip today, the short-term trend may continue due to higher arrivals. However, the anticipated increase in demand during the festive season, especially during Ramadan, is expected to keep prices stable in the medium term.
