Mumbai, March 20 (CommoditiesControl): Small cardamom prices witnessed a significant surge across major markets, driven by robust demand even as arrivals dipped steeply. The sudden decline in arrivals over the past two sessions has ignited a rally in domestic markets, underscoring the delicate balance between supply and demand. Reports indicate a staggering 25% drop in arrivals compared to the previous week, impacted the market sentiments.
The average price per kilogram experienced a notable uptick, escalating from Rs 1,420-1,432 in the previous session to Rs 1,495-1,500 in the current session. Notably, the maximum price per kilogram witnessed a slight dip from Rs 1,859 to Rs 1,932. However, after persisting below the Rs 1,500 mark for an extended period, the average price has now breached the Rs 1,500 threshold, marking a significant milestone in market movements.
Grade-specific rates have largely remained stable, although a surge in bulk grade rates is anticipated in the coming days, further bolstering overall prices. Presently, prices for 7 mm grades range from Rs 1,480 to Rs 1,550 per kg, while grades measuring 7-8 mm command prices of Rs 1,600 to Rs 1,700 per kg. Higher-grade variants measuring 8 mm and above fetch prices ranging from Rs 1,900 to Rs 2,000 per kg.
In a dramatic turn of events, arrivals plummeted during today's trading session, plummeting to 80,452 kg from 91,415 kg recorded in the previous session, marking the lowest levels witnessed in the last 10-12 sessions. The total offtake mirrored this decline, standing at 78,873 kg, down from 88,040 kg recorded previously, primarily attributed to the diminished arrivals. Despite the recent price surge, demand remains robust, with a daily offtake rate of 98.4%.
(CommoditiesControl Bureau; +91-9820130172)
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