MUMBAI (Commoditiescontrol) - An up-trend continued to persist in the small cardamom markets last week on good export demand amid decline in supply at auctions held in Kerala and Tamil Nadu.
Exporters were actively buying and that in turn has aided the markets to stay firm. They have bought an estimated 60 tonnes of exportable grade last week, market sources said.
As the harvesting is over the arrivals are likely to slip further in coming weeks. Those who are holding the stocks might be releasing in a regulated manner, they said.
North Indian buyers were buying but not aggressively citing slow down in retail sales due to higher prices, they said.
Weather conditions continued to remain unfavorable with prevailing drought conditions. Water resources for irrigating the plants have almost dried up. In several estates, where irrigation facilities do not exist the plants have started to wither, they said.
Arrivals last week were at 463 tonnes from 12 auctions. The auction average was vacillating between Rs1.325 and Rs1.378 a kg.
Total arrivals during the season from August 01 up to February 11, 2017 were at 12,426 tonnes and sales were at 11,815 tonnes.
The individual auction average for the season as on February 11, 2017 stood at Rs1,129.99 a kg.
Prices in the local market in the main trading hub for the aromatic spice, Bodinayakannur in Tamil Nadu, have declined and they were in Rs/Kg : 8mm bold good colour 1,600-1,655 ; 7- 8mm 1,460-1,520; 6mm -7mm 1,380-1,420 and below 6 mm: 1,270-1,300.
Medium bulk was being traded at Rs1,350-Rs1,400 a kg. Good bulk was fetching Rs1,450 a kg but its availability is limited.
(By Commoditiescontrol Bureau; +91-22-40015533)
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