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Export enquiry boosts sentiments in cardamom market

December 05, 2019

 

Export enquiry from Gulf markets has boosted sentiments in the cardamom auctions market on Thursday at Spices Park at Puttady here.

 

According to traders, there were enquiries both from exporters and their intermediaries for the purchase of quality cardamom. Since it is the fag end of the season, there may be apprehension that some compromise on quality of the commodity could be made.

 

This, coupled with low arrivals to the auctions also enhanced the sentiments as the quantity on offer was low at 81 tonnes compared to more than 100 tonnes in the last few weeks. The changes in the weather pattern in the growing tracts from a wet weather to bright sunny day also helped the market to regain the negative feeling. There was a drop of nearly ₹150 per kg in the last one week and the market today recovered ₹50 per kg across all varieties.

 

Buyers including from North India were also active, witnessing an aggressive buying, traders said. 

 

The auctioneers Cardamom Planters Association, Santhanpara offered 15 tonnes in the morning session and the average price realized was ₹2,796 per kg. Out of the 94 lots, selected lots gained a maximum price of Rs2996 per kg.

 

In the afternoon trade, Cardamom Planters Marketing Cooperative Society offered 66 tonnes. The average price realized was ₹2,834 per kg and the highest price was quoted at ₹3,168 per kg.   

 

Source:https://www.thehindubusinessline.com/

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