Commodity News
HeadLine : Future gains prompt traders to hold cardamom stock
Date : Jan 13 2020
Traders raised the suspicion that other than farmers, stockists, speculators, commodity brokers as well as a few traders are holding stock expecting better prices in the lean months of January, February and March. This is one reason for the heavy arrivals on several days. A majority are looking at booking profits, and therefore, enter the market  with handsome quantities on comfortable days. According to traders, the continuous heavy arrivals is a worrying factor, particularly at a time when cardamom prices are ruling high. The market does not have adequate monetary capacity to absorb such heavy stocks. And hence, the market  does not show any positive trend on such days. Meanwhile, the presence of inferior quality capsules have had  a say on cardamom auctions in Bodinayakanur on Friday, with prices witnessing stronger demand — by  Rs.20-30 per kg across grades — compared to the previous day. Even though the market was strong and steady with a good arrival of 100 tonnes, traders pointed out that the presence of inferior quality capsules have not boosted the average price realisation, which stood at a combined average price of Rs.3,830.55 per kg (Rs.3,875.08).

Source : Business Line
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