Upcountry buyer participation has slightly pushed up the cardamom prices at Thursday’s auctions in Puttady, with the market remaining steady.
The buyers’ involvement shows that there is still a good demand for quality capsules in North Indian markets. However, there is a concern among the trade on the Covid-19 scare which is evident from the low procurement, traders said.
The restrictions imposed for trading in the auction hall is also creating confusion among bidders who say that such limitations are hindering a smooth trading process. The permission given to operate 30 terminals to ensure a one-metre distance between the bidders and the limitations in the entry into the hall is creating some technical difficulties to carry out the trade. Exporters are inactive because of the shut-down of business centres across the Gulf markets.
Meanwhile, there was a little improvement in arrivals as the total quantity offered was 40.2 tonnes. But the average price dropped to ₹2,348 per kg.
The offer made by Mas Enterprises in the morning was 19.11 tonnes, which fetched an average price of ₹2,359 a kg. The highest price quoted for selected lots was ₹3,198.
In the evening session, the auctioneers Header Systems India Ltd offered 21.2 tonnes and the average price realisation was ₹2,336. The highest price quoted for selected lots was ₹2,992.
Trade analysts Acumen Capital Markets said that the April futures were down by 3 per cent or ₹69 to ₹2,233 when last traded on Thursday.