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“I personally do not expect cardamom exports to go beyond 2000 tons for the current season. Last year it had been at around 5000 tons.” a trader said. “The traders here do not export cardamom unless ..

18 Oct 2012

IDUKKI (Commodity Online): Idukki witnessed sales at the rate of Rs.740/kg for farm grade cardamom yesterday even as MCX grade cardamom attracted Rs.900 above per kilogram. The variety of 8mm, a rare one, fetched Rs.1025/kg.

With rains pouring, cardamom prices are exhibiting a weak trend in the spot markets. The festive demand coupled with the Middle East export demand on account of Bakr-Id is proving to be supportive for cardamom.

“I personally do not expect cardamom exports to go beyond 2000 tons for the current season. Last year it had been at around 5000 tons.” a trader said. “The traders here do not export cardamom unless they get a figure above $20/kg. But the Guatemala exporters quote prices at the rate of $16/kg. This could mean less of exports as export prices get severely limited due to competition.” he added.

The Kerala High Court will hear the case related to the re-establishing of cardamom auctions today. The Madurai bench of Tamil Nadu High Court will also take up the case for hearing today itself. [Trader community from Tamil Nadu has approached the Madurai Court regarding auctions issue.]

“Chances are more that the Maudrai bench will refer the case to Kerala High Court.” a Spices Board official said. “No two Courts would pass a judgement on the same case.” he pointed out.

“Cardamom November contract exhibited a range bound movement yesterday's session.” Prices made an intra day low of Rs.888.1 and closed at Rs.904.

The exchange deliverable stock position in MCX warehouse at Vandanmedu has again increased to 90.2 tons. “Prices are looking supportive in coming sessions, unless it breaks the level of Rs.885.” our in-house analysts said.


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