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Mumbai, Feb 21 (Commoditiescontrol): Witnessing the impact of reduced export demand, cardamom prices in major markets have witnessed a decline of Rs 10-30 per kilogram. The dip in export demand is attributed to the majority of buyers already being covered during Ramadan, leading to lower market activity. Notably, prices have fallen below Rs 1,400 per kg for the first time this season, underscoring the challenges posed by weakened demand dynamics.
The current scenario indicates a dual pressure on cardamom prices, with both domestic and export demand reported to be weak. The resultant market conditions have forced prices to hover below the Rs 1,500 per kg mark, and this trend is expected to persist in the foreseeable future.
Comparing the latest session to the previous one, the average price per kilogram has seen a decline from the range of Rs 1,379-1,472 to Rs 1,374-1,441. The maximum per kilogram price has experienced a notable drop, decreasing from Rs 1,985 to Rs 1,767 per kg.
Furthermore, reports suggest a grade-specific reduction in rates by Rs 60 to 80 per kg. The pricing structure now stands at Rs 1,480 to Rs 1,550 per kg for 7 mm grades, Rs 1,620 to Rs 1,700 per kg for grades 7-8 mm, and Rs 1,950 to Rs 2,000 per kg for grades 8 mm and higher.
In terms of market activity, arrivals have witnessed a decline to 94,502 kg from 103,252 kg in the previous session. This reduction is attributed to both seasonality factors and the prevailing lower prices. The total offtake in the market amounted to 90,030 kg, down from 101,300 kg in the previous session. The daily offtake rate has also been affected, standing at 95.2%, compared to 98.1% in the previous session, highlighting the impact of low demand on market trends.
(By CommoditiesControl Bureau; +91-9820130172)
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