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Commodity Tips, Cardamom scales ₹1,000/kg mark
Small cardamom prices are showing a firmer trend, of late, on strong demand. Prices have crossed ₹1,000-a-kg mark at auctions held in Tamil Nadu and Kerala.
The upward trend was visible from Monday and the individual average at Tuesday forenoon auction conducted at Puttady in Idukki (Kerala) by the South Indian Green Cardamom Company Ltd, Kochi, soared to ₹1,031.36 a kg from ₹1,009.27 a kg at yesterday afternoon auction in Bodinaykannur.
Last time the prices crossed the ₹1,000 mark was on September 26, 2017, where the auction average stood at ₹1,020.71/kg.
“The markets are likely to remain bullish in the coming days on apprehensions of a possible supply squeeze,” said PC Punnoose, General Manager, CPMC, Kumily. “Empty inventories in the upcountry markets on the one hand and the lean final round of picking expected to end by next month have prompted the buyers both domestic and export to be active in the market,” he said.
Added to this is the unpredictable weather conditions, he said.
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