Mumbai, March 21 (CommoditiesControl): Prices for small cardamom experienced a significant surge in major markets driven by heightened demand. The unexpected decline in arrivals over the past two sessions has further bolstered the rally in domestic markets, with arrivals dropping by nearly 25% compared to the previous week.
The average price per kilogram witnessed a notable increase from Rs 1,495-1,500 in the previous session to Rs 1,506-1,563 this time. Additionally, the maximum price per kilogram rose from Rs 1,932 to Rs 2,074. After persisting below Rs 1,500, the average price has now surpassed Rs 1,500 per kg after a month.
Reports indicate that grade-specific rates have surged by Rs 80 to Rs 140 per kg. Prices for 7 mm grades range between Rs 1,560 and Rs 1,650 per kg, while grades 7-8 mm are priced between Rs 1,700 and Rs 1,740 per kg. Higher grades measuring 8 mm and above are commanding prices ranging from Rs 2,000 to Rs 2,140 per kg.
Although arrivals saw a slight improvement today, they remained below 1.0 lakh kgs. Arrivals rose to 83,345 kg from 80,452 kg in the previous session. Despite this, the total offtake increased to 81,800 kg, up from 78,873 kg in the previous session, primarily due to the lower arrivals. Following the recent price drop, demand surged, resulting in a daily offtake of 98.7%.
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