The Hindu Business Line : Cardamom price upsurge continues on thin supply

The total arrivals as on April 17 during the current season showed a drop of 1,084 tonnes to 7,174 tonnes from 8,258 tonnes during the corresponding period last season. Consequently, the sales fell by 1,112 tonnes to 6,603 tonnes from 7,715 tonnes during the previous season. The weighted average price stood at Rs 307.25 a kg as against Rs 216.42 a kg last season.

The current arrivals are from the carryover stock of the large growers and traders who are releasing small quantities. As the season has come to a close, they are holding back anticipating further increase in the prices, market sources said.

`Hot' market

The market was `really hot' on Wednesday as the prices of all grades of cardamom moved up by around Rs 20 a kg. Domestic buyers were very active following fall in arrivals in recent days as the harvesting has almost come to an end, Mr P.C. Punnoose, General Manager, Cardamom Processing Marketing Company (CPMC), Kumily, told Business Line.

According to him, the maximum price moved up to Rs 552 a kg at the CPMC auction on Wednesday. Bold capsule (8 mm) was fetching Rs 550 a kg while 7.5 mm and 7 mm Rs 450-500 and Rs 400 - 450 a kg respectively. The current bulk was sold at Rs 380 a kg.

Uptrend

The average prices continued its upward trend in the auctions. At the auction in Pulianmala on April 14, it was at Rs 348.75. At the KCPMC auction in Kumily on April 15, it moved up to Rs 360.30 a kg. At the CPA auction in Bodinayakannur on April 16, the average price was at Rs 358.70 while at Header Systems auction in Nedumkandam, it moved up to Rs 389.57 a kg and on April 18 at CPMC auction in Kumily, it stood at Rs 398.95 a kg.

The prices of graded varieties as on April 14 were AGEB Rs 445 - 465,

AGB Rs 380 - 390, AGS Rs 365 - 375 and AGS 1 Rs 330 - 340 a kg. Local market prices were AGEB Rs 440 - 450, AGB Rs 370 - 380, AGS Rs 360 - 370 and AGS 1 Rs 320 - 330. Current bulk was fetching Rs 350 - 400 a kg.

The showers received by the growing areas were insufficient and, hence, follow up rains would only help the plants to rejuvenate, he said.