Mumbai, March 13 (Commoditiescontrol): Cardamom prices in major markets witnessed a marginal recovery as arrivals decreased, marking a turnaround from recent lows. The conclusion of Ramadan demand has added pressure on prices, albeit the recovery follows a period of price escalation due to robust demand at reduced price levels.
In the latest market update, the average price per kilogram climbed from Rs 1,265-1,345 in the previous session to Rs 1,371-1,400 in the current session. Notably, the maximum per kilogram price surged from Rs 1,852 to Rs 1,948. However, the average price continues to remain below Rs 1,500 per kilogram.
Reports indicate that grade-specific rates remained stable following a recent weak session. Prices for 7 mm grades range between Rs 1,480 to Rs 1,550 per kilogram, Rs 1,600 to Rs 1,700 per kilogram for grades 7-8 mm, and Rs 1,900 to Rs 2,000 per kilogram for grades 8 mm and above.
Arrivals experienced a sharp decline from 117,094 kilograms to 81,984 kilograms in the previous session, subsequently impacting the total offtake, which decreased from 115,615 kilograms to 81,822 kilograms due to lower arrivals. Despite the decrease in arrivals, demand remained robust following the recent price drop, with a daily offtake rate of 99.8%.
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