Mumbai, February 16 (CommoditiesControl): Cardamom prices in major markets continued to trade below Rs 1,500, experiencing a decline of Rs 10-30 per kg attributed to weak demand. The anticipation of low export demand for Ramadan, as most buyers are already covered, has contributed to the subdued market conditions. Despite trading in the range of Rs 1,450-1,550 over the last 8-10 sessions, prices have faced pressure due to weak domestic demand, although today's market saw support from strong export demand.
Comparing to the previous session, the average price per kilogram dropped from Rs 1,482-1,522 to Rs 1,473-1,483. The maximum per kilogram price witnessed a decline from Rs 2,228 to Rs 1,923. Average prices have consistently remained below Rs 1,500 per kg and are expected to maintain a lower range in the foreseeable future.
According to reports, grade-specific rates have remained stable. Prices for 7 mm grades range from Rs 1,550 to Rs 1,600 per kg, grades 7-8 mm are priced between Rs 1,700 to Rs 1,780 per kg, and grades 8 mm and up are quoted at Rs 2,000 to Rs 2,100 per kg.
Arrivals recorded a decrease to 98,316 kg from the previous session's 118,168 kg, and the total offtake was 89,260 kg, marking a substantial decrease from the previous session's 109,784 kg. The daily offtake rate declined to 90.7% due to lower demand, compared to 92.9% in the previous session.
In the major markets of the East and North East, prices of large cardamom were reported to be mixed. Chotadana prices fell by Rs 25-100 per kg, while Badadana prices remained stable to rising by Rs 25 per kg compared to the previous auction. Chotadana prices were reported between Rs 1,050 and Rs 1,180 per kg, while Badadana prices ranged between Rs 1,250 and Rs 1,463 per kg.
(By CommoditiesControl Bureau; +91-9820130172)
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