Cardamom Prices Rules Steady (03-Mar-2010)
Following the demand-supply equilibrium, the cardamom prices continued to rule steady, by and large, last week. At the auction, which was held from Monday to Sunday last week, the individual auction average price varies between Rs 970 and Rs 1,000 a kg.
The total arrivals at the auction held in Bodinayakannur on Monday, conducted by the Cardamom Planters' Association (CPA) stood at 11.5 tonnes and almost the entire quantity was sold out. The maximum price stood at Rs 1,050.50 a kg while the minimum at Rs 840 a kg. However, the average price was Rs 950.84 a kg. However, at the KCPMC auction, the average price was Rs 969.90 a kg.
Moreover, he said that there has been a shrunk in the arrivals and whatever volume arrived at the auction is from the stocks held by growers and the dealers as harvesting of the current crop has come to an end. Meanwhile, the growers are now reluctant to sell below the price of Rs 1,000 a kg.
He said that there was buying from the exporters ass the prices have dropped below Rs 1,000.
Last week, the exporters bought an estimated 25 tonnes of cardamom, he said. The demand was up during the current season following the non-availability from other sources and the superior quality of the Indian produce.
He also added that the rise in exports was also due to the opening up of new markets in a small way. As the arrivals were dropping following the end of the harvesting season, the upcountry dealers also bought small quantities, growers said.
Meanwhile, the total arrivals during the current season from August 2009 to March 1, 2010, stood at 7,538 tonnes and out of this, 7,376 tonnes of cardamom were sold.
The arrivals and sales during the same period last season stood at 7,205 tonnes and 6,747 tonnes, respectively. The weighted average price as on March 1, 2010, during the current season surged from Rs 517.97 a kg to Rs 782.43 kg as on the same day last year.
The prices quoted for graded varieties on Monday in rupees per kg stood at: AGEB 1,165-1,175 followed by AGB 1,110-1,120; AGS 1,100-1,110; AGS1 1,080 -1,100. Prices in the open market in Bodinayakannur were AGEB 1,145-1,155; AGB 1,085-1,095; AGS 1,075-1,085; AGS1 1,060-1,070.
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