Mumbai, December 03 (CommoditiesControl): Small cardamom prices have experienced a decline following a recent surge, as higher arrivals over the past five sessions have put pressure on the market.
With arrivals consistently exceeding 1 lakh kgs, prices have weakened, reflecting the increased supply. According to market sources, the early onset of the first harvest this season, driven by lower crop yields from weather anomalies, has contributed to the higher-than-usual supply.
The latest auction data shows a drop in the average price per kilogram to Rs 2,938-2,950, compared to the previous day's range of Rs 2,999-3,052. The highest price recorded was Rs 3,253 per kilogram, down from Rs 3,306 in the previous session.
Arrivals today reached 125,093 kg, up from 111,454 kg the previous session, comprising 438 lots. Despite this increase, arrivals have remained above 1 lakh kgs for the fifth consecutive session. Although auction volumes decreased, offtake rose from 107,425 kg to 116,335 kg, but the offtake percentage fell to 93.0% from 96.4% the previous session, indicating reduced demand at higher price levels.
Grade-specific quotes have remained stable following the price drop. For grades measuring 7 mm, prices range from Rs 2,660 to Rs 2,820 per kilogram. Prices for grades 7-8 mm are between Rs 2,880 and Rs 2,960, while grades of 8 mm and above are priced between Rs 3,100 and Rs 3,340 per kilogram.
While prices have fallen in today's session and are expected to remain lower for the next 2-3 sessions, market experts anticipate that the combination of limited supply and reduced imports will eventually drive prices higher in the near future.
(CommoditiesControl Bureau; +91-9820130172)
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