Cardamom prices moved up during the weekend at auctions held in Kerala and Tamil Nadu.
The individual average price was dwindling between Rs 515 and Rs 530 a kg. Good upcountry demand has been keeping the prices at higher levels and it gives the impression that the commodity is currently available only from the indigenous sources as arrivals from the only other source, Guatemala, appear to have been nil during the current season, market sources told Business Line.
However, there was no export buying during the week. According to them, there is not much difference in the prices of the Indian and Guatemala produce, especially because of the current economic melt down and the reported trade barriers.
The increase in exports of cardamom (small) from the country during April-February 2008-09 substantiates this assessment. Total shipments during the 11 months of the current fiscal surpassed despite high unit value, both the targets in volume of 550 tonnes and value of Rs 25 crore and touched 600 tonnes valued at Rs 37.08 crore. The unit value realised was Rs 617.92 a kg. Exports during the corresponding period last fiscal was 430 tonnes valued at Rs 20.44 crore and the unit value realisation was Rs 475.34 a kg.
At the Sunday auction of KCPMC, 47 tonnes of cardamom arrived and the entire quantity was sold out. The increase in arrivals could be attributed to the fact that there was no STCL auction on Thursday at Bodinayakannur because of the financial year ending, Mr P.C. Punnoose, General Manager, CPMC, told Business Line.
Maximum price fetched was Rs 700 and minimum Rs 300 a kg. The average price was Rs 518 a kg. The decline in the average price was because of the arrival of sick varieties.
Source : Business Line