Weekly Cardamom: Prevailing Price Levels Are High Due To Expectation Of Lower Production

MUMBAI (Commmoditiescontrol) - Cardamom first harvest has started during second week of June 2019 in some blocks.

The yield is estimated at around 30 kg per acre as compared last season’s 150 kg per acre. Of the total yield, only 4-5% are of 7.5-8 mm grades as per the information from trade sources.

During the week, cardamom arrivals in major auction centres stood at 124 MT in which almost 98% of the total sold out.

Rainfall in Idukki

Since beginning April 2019 rainfall in Idukki witnessed a decline of 45.8%. However, during second week of June 2019, rainfall benefited the crop.

Week/Actual rainfall (in mm)/Normal rainfall (in mm)
23 – 29 May 19.4 63.3
30 May – 05 June 38.5 84.9
07 – 12 June 131.6 177.4
Total 333 615.4
Source: IMD

Auction trade analysis
As per the detailed auction trade analysis, the maximum number of trade happened between INR 2500-2600 per kg levels. (32% of the total trade), followed by INR 2600-2700 per kg (25% of the total). Despite rainfall, prevailing price levels are high due to expectation on lower production. Of the total arrivals, only about 7-9% material is of 7.5-8 mm grades.

Price range 01-15 June/16-25 May/01-15 May
1000-1100 0.53 0.13 0.00
1100-1200 0.06 0.06 0.06
1200-1300 0.00 0.32 0.16
1300-1400 0.35 0.32 0.13
1400-1500 0.12 0.25 0.28
1500-1600 0.35 0.32 0.57
1600-1700 0.18 0.19 0.35
1700-1800 0.29 0.25 0.28
1800-1900 0.35 0.70 0.41
1900-2000 0.35 1.02 0.69
2000-2100 0.99 2.04 2.96
2100-2200 2.69 5.73 5.83
2200-2300 3.56 18.54 12.09
2300-2400 4.96 27.58 18.49
2400-2500 12.79 21.15 18.24
2500-2600 32.13 12.17 13.54
2600-2700 25.47 6.11 12.22
2700-2800 10.98 2.36 8.09
2800-2900 3.74 0.76 3.59
2900-3000 0.12 0.00 2.02

(By Commoditiescontrol Bureau)