According to sources in cardamom trade, export of cardamom from the country for the first nine months of this fiscal has touched 675 tonne when the figure was 550 tonne for the whole of last year. Prices too have been ruling steady at an average of 650 per kg at the auction centres in Kerala and Tamil Nadu over the last two weeks. The average price for the season stood around Rs 580 per kg.

With production going steadily high over the last few years, there was a fear that prices would decline. However, the fears were allayed and there has been a climb in prices. From an average of Rs 570 during the auctions in mid-January, they have now risen to Rs 580. The average price during last year was Rs 395 per kg and during 98-99 it was around Rs 350. Nearly 3,400 tonne of the commodity has been traded so far.

Likewise, production during 97-98 was 7,900 tonne and it fell to 3,500 the next year and in 99-00 it was around 9,250 tonne. This year the production is expected to be around 10,450 tonne.

The high realisation of prices at the auction centres is attributed to the better domestic and export demand. Exports for this year would shoot the estimate of 750 tonne, sources said, due to the good demand for the variety in West Asia.

Also, there has been a reported fall in Gautemala production. Further, with the Guatemalan variety being of inferior quality, there has been good global demand for the Indian variety abroad. This helped Indian traders make a good standing in the global market, the sources added. There also is an expectation of a further price rise.

As a result both growers and traders have been holding back their stocks. The season has just started and and according to sources, it is believed that traders have been holding back a stock of over 1,000 tonne and growers over 2,250 tonne. During the first week of the month only one auction was held in Tamil Nadu at Bodinayakannur. The auctions at Vandanmedu, Shantanpara and Kumily in Kerala also witnessed good activity. Trade outside the auction route is said to be on the increae as there has been a good domestic demand.