Mumbai, May 2 (CommoditiesControl): Small cardamom prices in major markets witnessed a decline after experiencing a sharp rise, primarily attributed to subdued demand at higher price levels.
Despite robust demand observed in North India, export inquiries remained tepid in the wake of the substantial price hike. Consequently, arrivals declined as prices receded during today's session.
The average price per kilogram ranged between Rs 1,983 and Rs 2,121, marking a notable decrease from the previous session's range of Rs 2,163 to Rs 2,168 per kg. Notably, the highest reported price reached Rs 3,353 per kg, indicating a rise from Rs 2,893 in the preceding session.
Arrivals totaled 118,678 kg, showing an increase from 106,405 kg recorded in the previous session. However, offtake surged to 112,054 kg from 101,540 kg in the previous session, attributed to subdued demand. The offtake rate stood at 94.4%, down from 96.2% in the previous session.
Grade-specific rates remained consistent, with prices for 7 mm grades ranging between Rs 1,740 and Rs 1,820 per kg, Rs 1,920 to Rs 2,000 per kg for grades 7-8 mm, and Rs 2,200 to Rs 2,360 per kg for grades 8 mm and above.
The decline in small cardamom prices reflects a correction following the recent surge, with market trends suggesting a cautious approach amid fluctuating demand and price levels.
(By Commoditiescontrol Bureau: +91-9820130172)
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