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Small Cardamom Slips On Sluggish Demand

11 Feb 2019 4:31 pm
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Mumbai (Commoditiescontrol) -The small cardamom on Monday showed an easier trend on bearish sentiments created by rains in some of the growing regions in Kerala's Idukki district last week.

Consequently the individual auction average slipped to below Rs1,400 a kg late last week.

Slow down by buyers coupled with decline in the quality of the material arrived has resulted in weak demand pulling the prices down, market sources in Kumily (Kerala) and Bodinayakannur (Tamil Nadu) said.

According to trade sources, the upcountry demand is, however, expected to pick up after Sivarathri. Added to this is the likely emergence of demand for Indian cardamom from Saudi Arabia, a major consumer of our aromatic spice from early next month. The customers in the Gulf country prefer Indian cardamom which is reportedly scarce there at present, they said.

Meanwhile, the harvesting is almost over and what ever material arriving now is from stocks held by the growers/primary market dealers, they said. The gap between now and the arrival of next crop, expected in July, is wide and hence the availability is going to be tight, they said.

At the auction currently under way and conducted today in Puttady in Kerala's Idukki district, by the Cardamom Processing & Marketing Co-Operative Society Ltd, Kumily arrivals stood at 130 tonnes. The auction average at 4 p.m. is hovering at around ₹1,335 a kg.

Last week, arrivals dropped to 493 tonnes from six auctions from 566 from six auctions the previous week.

Weekly auction average last week has declined to Rs1,440.05 a kg from ₹1,471.14 kg a kg and it was vacillating between ₹1,383 and ₹1,480 a kg.

Total arrivals during the current season stood at 14,626 tonnes and the sales were at 14,275 tonnes.

The auction average for the season moved up to ₹1,286.19 a kg from 1,280.19 a kg.

The prices of graded varieties slipped today at Bodinayakannur and were in ₹/Kg : 8mm good green colour bold 1,700; 7 - 8 mm :1,450 : 6-7 mm 1,350. Good bulk was not available, market sources said.

Some of the growing regions in Idukki district received moderate showers last week.

(By Commoditiescontrol Bureau; +91-22-40015567)


       
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