During the first auction, cardamom prices were quoted about Rs 40-50 above the prices quoted for the same quality at the centres in southern India. This was mainly due to heavy festive demand coupled with inclination towards savings in transport cost.

Moreover, the first auction almost satisfied the demand for 8 mm superior green quality which fetched highest price at Rs 711 per kg. This led to lower demand for the same in the second auction held on October 12 and the offeringswere also for a lesser green variety in 8 mm bold.

Due to these reasons the highest price quoted in the second auction was Rs 670, a drastic Rs 41 lower than the price quoted at the first auction.According to Mayur Desai, managing director of Perfect Cardamom, the agency licensed to hold cardamom and black pepper auction in Mumbai, the prices quoted at the second auction are still higher by Rs 20-25 per kg compared with other auctioning centres in south mainly due to transportation cost.The total quantity offered at the auction was 3460 kg cardamom and 898 kg black pepper out of which 439.800 kg cardamom was withdrawn as the price quoted was less than the benchmark price.

Total value of the cardamom sales was Rs 14,33,756.10 while for black pepper it was Rs 2,07,138. The maximum price offered for cardamom was Rs 711 per kg whereas the minimum price offered was Rs 363 per kg. The prices for black pepper were quoted Rs 231 and Rs 230 per kg respectively.

The average price for cardamom worked out to be Rs474.43 and Rs 230.67 per kg for cardamom and black pepper respectively.

AV Thomas group offered a total of 900 kg cardamom in the categories 8mm jumbo, super green quality 7 mm bold, premium green quality and regular green quality at the prices in the range of Rs 705-711, Rs 555-585, Rs 460-480 and Rs 422-424 per kg respectively.

Similarly, Mutthucard Estate offered 2100 kg cardamom in the categories of 7mm bold, manam bold, robin, panbar and sick bulk at the price of Rs 515-519, Rs 421-424, Rs 391, Rs 387 and Rs 404 respectively.The average price for cardamom worked out to be Rs 437.66 and Rs 239.82 per kg for cardamom and black pepper respectively at the second cardamom and black pepper auction of the season 1998-99 held on October 12.

The total quantity offered at the auction was 5014.700 kg cardamom and 1607 kg black pepper out of which 733.600 kg cardamom was withdrawn as the price quoted was less than the benchmark price. Though whole lot of black pepper was sold at the auction.

Total value ofthe cardamom sales was Rs 18,73,646.70 while for black pepper it was Rs 3,85,389. The maximum price offered for cardamom was Rs 670 per kg whereas the minimum price offered was Rs 241 per kg. The prices for black pepper were quoted Rs 350 and Rs 238 per kg respectively.

Arrival of Tata Tea 2523.700 kg of cardamom. The quantity offered by Vaikundam Rubber and Produce Co Ltd was 1000.900 kgs. AVT group of companies offered 1184.400 kgs. The average price for cardamom worked out to be Rs 474.43 and Rs 230.67 per kg for cardamom and black pepper respectively.Mumbai had its first auction in its history on October 23, 1997.

Subsequently 24 more auctions were held. Against total fresh arrivals of 91703 kg of cardamom 81806 kg was auctioned which fetched an average price of Rs 312.97 per kg. Accordingly 8 auctions for black pepper were held last year which fetched an average price of Rs 223.99 per kg. The quantity sold was 9368 kg against the arrivals of 9936 kg.

The auctions for both the spices will be heldon every Thursday after Diwali starting from October 29. This year auctioning of 1.25 lakh kg of cardamom is expected, informed Desai.