Commodity News
HeadLine : Cardamom auctions lose flavour amid Iran-US stand-off
Date : Jan 8 2020
According to traders, the stand-off between the US and Iran has gripped the market as cardamom from India reaches Iran and Afghanistan through various Gulf countries. Other than Saudi Arabia, cardamom exports to Gulf nations are around 1,000 tonnes per year and the emerging situation presents a bleak picture as far as shipments of
the commodity are concerned. Exporters were also not active in the market. Besides, there was selling pressure with improved arrivals, especially when the market witnessed a price rise of Rs.800/kg over the past week. However, there was a downward price trend yesterday and a slow movement of lots. Of the 287 lots, only 250 were sold and the balance declared as time-out. The total quantity that arrived was 102.2 tonnes with a combined average price of Rs.3,874.33/kg. In the morning session , the auctioneers Vandanmedu Green Gold Cardamom Producer Co offered 38.1 tonnes of 183 lots in which 36.5 tonnes realised an average price of Rs.3,873.66 and the highest price quoted for selected lots was Rs.4,245. In the evening session , Idukki District Traditional Cardamom Producer Co Ltd offered 64.1 tonnes of 287 lots which realised an average price of Rs.3,875.

Source : Business Line
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