Cardamom gains aroma

Cardamom gains aroma
By: Agribusiness Posted On: April 02, 2018 View: 282

Cardamom gains aroma

Small cardamom prices gained on Monday after showing an easier trend last week.

At today’s auction conducted by the Cardamom Planters Association (CPA) in Bodinayakannur, the auction average moved up to ₹923 a kg from ₹883 the previous Monday.

Of the arrival of 18 tonnes, 13 tonnes were traded with a maximum price of ₹1,232 a kg.

“The market was showing a firmer trend today,” Ranganathan, a dealer, told BusinessLine.

The financial year 2017-18 has been good for the cardamom growers as the average price during the last fiscal hovered at around ₹960 a kg despite having a good crop, PC Punnoose, General Manager, CPMC, said.

He said the growing tracts have received couple of good summer rains in March and if a similar trend prevailed in April the next crop will also be good and early.

Squeeze in supply of export grade has slowed down export buying. The exporters have bought an estimated 30-40 tonnes last week, trade sources said.

Total arrivals last week fell to 280 tonnes from 482 tonnes the previous week as only six auctions were held due to Easter holidays.

The Individual auction average has fallen to ₹922.21 a kg from ₹941.14 the previous week and was vacillating between ₹882 and ₹960 a kg.

Total arrivals during the current season as on March 29 were at 20,990 tonnes and sales were at 20,380 tonnes. The individual auction average of the season was at ₹961.76 a kg.

Prices of graded varieties (₹/kg): 8mm green bold 1,280; 7-8 mm: 1,020; 6-7 mm: 925-950. Good bulk was being traded at ₹950-1,000 a kg.

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