G.K. Nair

Kochi , Dec. 8

CARDAMOM prices ruled steady at lower levels with marginal fluctuations at the auctions held during the week in Kerala and Tamil Nadu.

The arrivals continued to be heavy at the auctions and this phenomenon has kept the auction average price dwindling between Rs 220 and Rs 230 a kg.

Arrival at the Bodinayakannur auction on Thursday stood at 40 tonnes, while at the Kumily auction on Wednesday it was 98 tonnes.

During the current season up to Dec 07 a total quantity of 4,478 tonnes arrived, and of this 4,189 tonnes were sold.

As against this the arrivals and sales through auctions last season were 2,517 tonnes and 2,371 tonnes respectively.

The weighted average price during the current season stood at Rs 227.36 a kg as against Rs 302.33 a kg in the corresponding period last year.

At the Bodinayakannur auction on Thursday, the prices moved up by Rs 10 to 15 a kg as there was good export buying.

Market sources told Business Line that confirmed orders were there from Japan for medium variety (AGS grade). Besides, buyers from North were also active.

On Wednesday at Kumily, 97 tonnes were sold at an average price ofRs 222.31 kg.

The maximum price fetched was Rs 416 a kg, while the minimum was Rs 79.

Prices of graded varieties at auctions as on December 3 were: AGEB Rs 300-310, AGB Rs 215 - Rs 225, AGS Rs 200 - Rs 210 and AGS1 Rs 175 - Rs 190 a kg. Bulk was being sold at Rs 200 - Rs 240 a kg.

The local prices at Bodinayakannur on Thursday were AGEB Rs 290 - Rs 300, AGB Rs 200 - Rs 205, AGS Rs 195 - Rs 200 and AGS1 Rs 170 - Rs 175 a kg.

Abundant availability at competitive prices in the domestic market at a time when the supply from Guatemala is likely to be thin seems to have encouraged the north Indian dealers to buy more and stock.

The actual supply position from Guatemala, where the crop has reportedly been damaged by hurricanes, would be known only by early next year, market sources pointed out.

© Copyright 2000 - 2009 The Hindu Business Line