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Saturday, November 28, 1998

Cardamom prices continue to surge on good demand 

PRESS TRUST OF INDIA  
New Delhi, Nov 27: Cardamom prices continued to rise at various auctions across the country with the traditional centres fetching higher prices than the non-traditional ones.

Average realisation was substantially up at Rs 432.71 a kg for the week-ending November 7 against the prices during the week-ending October 31, in view of better realisation in Kerala and Karnataka centres.

Reports from licenses auctioneers said on a year-to-year basis, the all India average prices of Rs 411.44 a kg was nearly double as compared to the average of Rs 272.13 during the same period last year.

The highest quotation of the week under review was quoted at Vandenmettu in Kerala at Rs 631.65 a kg against Rs 557.92 the previous week. A total of 3,98,104 kg has changed hands so far during the current season at this centre.

At Kumily the other major auction centre in the state average realisation of the commodity was Rs 557.85 a kg up from Rs 491.03 during the previous week.

At Mumbai, where cardamom realised the highestaverage prices last season, the average price realised at the November five auctions was Rs 608.01 a kg marginally up from the previous week's Rs 600.75 a kg.

Cardamom prices have been ruling high this season over fears of an anticipated shortage in domestic and global production.

The auctions at Bodinayakanur in Tamil Nadu saw average prices falling marginally to Rs 536.10 a kg from the previous week's high of Rs 538.64 a kg due to increased offerings.

A total of 35,74,000 kg has been sold at this centre during the season as against 3,13,927 kg that changed hands during the same period last year.

Karnataka centres too caught up with rising trends in other centres with the average realisation vaulting to Rs 323.79 a kg against the previous week's level of Rs 306.76 a kg and the last year's Rs 289.20 a kg.

The highest rate of Rs 411 a kg was quoted at Saklaspur and the lowest of Rs 292.90 at Sirsi in the state.

At Delhi, where auction was held for the first time during the current season a totalof 696 kg was sold at an average of Rs 584.71 a kg.

Prices of cardamom across the country have been on rising on account of a projected global shortage and damage to crops in Guatemala, a major cardamom growing country in the world.

In the wholesale market, ageb variety was quoted at Rs 650/660 a kg against Rs 390/400 a year ago at Bodinayakanur. While prices at Mangalore, Karnataka were not available.

The hardening trend in the prices was also visible in all varieties of small and large cardamoms at the wholesale market.

Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.


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