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Commodity News |
HeadLine : |
Cardamom gains flavour on demand |
Date : |
Dec 23 2014 |
Cardamom prices increased on higher
domestic demand at last week’s auctions held in Kerala and Tamil
Nadu.
Arrivals continued to rise and
notwithstanding this development, prices moved up. This has led to
the suspicion that inventories with end users/dealers are empty.
Besides, no carryover stocks are said
to be with dealers/traders in primary and terminal markets. Growers
are also reported to be not holding any stocks from the previous
crop.
The trade attributed the demand to
fears of supply squeeze from Guatemala, the only other source of
supply. In addition, consumption is on the rise. The per capita
consumption has gone up.
On the other hand, availability of good
colour bold capsules will come to an end with the closing of the
current round of picking. This has prompted buyers to cover up. All
these factors have aided the price rise at a time when prices of
other commodities such as rubber, pepper, tea, etc are falling.
Individual auction average has been
vacillating between Rs.795 and Rs.810 a kg. It was below Rs.575
during the same period a year ago, official sources said. Export
buying was slack as current prices higher. However, exporters bought
an estimated 50 tonnes last week.
At the Sunday auction held by the
Kerala Cardamom Processing and Marketing Company, arrivals declined
to 118.5 tonnes from 121.3 tonnes at the previous Sunday and the
entire quantity was sold out. The maximum price was Rs.991 a kg and
the minimum Rs.554. The auction average increased to Rs.801.56/kg
from Rs.774.04 the previous Sunday.
Total arrivals during the season so far
stood at 9,872 tonnes against 10,728 tonnes during the same period
last year. Sales were at 9,704 tonnes and 10,381 tonnes respectively.
The individual auction average, as on December 21 this year, was at
around Rs.790 (Rs.571) a kg.
Prices of graded varieties (Rs./kg):
8mm bold 1,025; 7-8mm 850; 6-7mm 750; below 6 mm 700.] Source :-Business Line
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