Mumbai, May 13 (Commodities Control): Small cardamom prices surged despite a marked increase in arrivals, signaling robust demand in spot markets. Local sources attribute this uptick to heightened export demand.
The average price range for small cardamom was reported between Rs 2,029 and Rs 2,064 per kilogram, representing a significant increase compared to the previous session's range of Rs 1,852 to Rs 2,016 per kilogram. Although the highest reported price per kilogram slightly decreased to Rs 2,575 from Rs 2,780 in the previous session, the overall market trend remained bullish.
Arrivals witnessed a sharp rise, totaling 102,607 kilograms compared to 71,340 kilograms in the previous session. This surge in arrivals, however, did not dampen market sentiment, indicating the resilience of demand. Offtake also increased to 101,064 kilograms from 70,840 kilograms in the previous session, reflecting the market's capacity to absorb higher supply levels. Notably, the offtake rate stood at an impressive 98.5%, marking a significant improvement from the previous session's 99.3%.
Grade-specific rates remained consistent, reflecting the overall stability in the market. Prices for 7 mm grades ranged from Rs 1,780 to Rs 1,840 per kilogram, while grades measuring 7-8 mm were quoted between Rs 1,960 to Rs 2,040 per kilogram. Additionally, prices for grades measuring 8 mm and above ranged from Rs 2,200 to Rs 2,360 per kilogram.
The prevailing market conditions indicate a bullish trend in small cardamom prices, driven by strong demand dynamics and consistent grade-specific rates.
(By CommoditiesControl Bureau: +91-9820130172)
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