After witnessing lower arrivals in the last few days, the offered cardamom quantity in the auctions has started showing sizeable improvement. It is at 67 tonnes in Bodinayakanur on Friday.
However, traders are keeping their fingers crossed over the low participation from buyers, mostly because of a cash shortage in the market. The main buyers now are upcountry and few local buyers. The traders hope for the the market to become stable in the auctions today.
It is pointed out that the increased arrivals on Thursday had affected the sentiments, bringing down the prices. Also, lesser arrivals are an indication of the end of the harvest season. But a sudden increase in the quantity offered has forced the market participants to believe that planters still have enough stock to liquidate.
The quantity on offer in the morning session was 15 tonnes and the auctioneer was Green House Cardamom. In the afternoon trade, the auctioneer South Indian Green Cardamom Company offered 52 tonnes.
Trade analysts Acumen Capital Markets Ltd said that cardamom March futures fell by 3.56 per cent or ₹125.3 to ₹3,391.80 when closed on Thursday. The March futures price is showing some weakness on the daily chart.