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WEEKLY Cardamom: Prices Unlikely To Come Down Due To Delay In Harvest

15 Jul 2019 9:06 am
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MUMBAI (Commoditiescontrol) - During the week Cardamom arrivals in the auction centres stood at 117.4 MT in which 107.1 MT sold out. The averge price of cardamom reached INR 3246 per kg levels from INR 3078 per kg levels as per the data from Spices Board.

First harvest which began during second week of June 2019 is not progressing well. Harvestis ongoing only in the areas which have irrigation facility. Picking in rainfed areas is expected to start from August 2019, almost delayed by 40 days.

Rainfall during the last two weeks was below normal levels which remained as a constraint. Traders hold stocks and re-poolingat the various auction centers to stabilize the prices.

As on 3rd July 2019, cumulative rainfall registered 57.2% deficit as compared to normal level. If rainfall in coming weeks remainunfavorable, the harvest may delay further and the production may get impacted by about 40-50% compared to last season.


Rainfall in Idukki

Week

Actual (in mm)

Normal (in mm)

23 – 29 May

19.4

63.3

30 May – 05 June

38.5

84.9

07 – 12 June

131.6

177.4

13 – 19 June

64.9

208.2

20 – 26 June

104.9

188.1

27 June – 03 July

41.7

215.9

Total

401

937.8

Source: IMD

As per the detailed analysis of auction trade, the majority of the trade happened between INR 3100-3300 per kg levels (46.93% of the total trade), followed by INR 3000-3100 per kg levels (21.39% of the total. The prices in coming days are unlikely to come down due to delay in harvest by around 40 days.

(By Commoditiescontrol Bureau)


       
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