Commodity Online
Rs 1,000 for a kg of cardamom! This news will bring cheer to the cardamom growers in Kerala’s Idukki district. Following increased demand and supply worries, cardamom prices are steadily rising at auctions at Kumily and Bodinayakannur.

This week, the prices moved up at auctions held in Kerala and Tamil Nadu following good demand.

It seems the north Indian demand is on the rise as traders have exhausted their stocks already.

The record price of Rs 1000 per kg was set during auction at Bodinayakannur’s Heddar Systems. The fancy of Rs 1,000 per kg was offered for 11 kg of green bold capsules of above 8mm size. This is after 21 years the cardamom crossed the Rs 1,000 a kg barrier.

In Idukki district, arrivals continued to be good as the picking is in full swing. The growers are not holding back their produce as the price are ruling high for the past several weeks.

At the Sunday auction of the KCPMC, Kumily 43 tonnes arrived and of which 42 tonnes were sold. The maximum price was Rs 897 and minimum Rs 498 a kg. Average price was Rs 641 a kg. The market continued to remain stable and it is likely to continue till the end of October.

However, there was not much export buying last week and till Monday as the dealers in Saudi Arabia and other Gulf countries said to have covered their requirements for the Ramzan.

It is evident from the shipments of the commodity during August which stood at 30 tonnes valued at Rs 1.98 crore and despite a high unit value of Rs 660 a kg. Exports of Cardamom during April-August were at 175 tonnes valued at Rs 10.98 crore at an average unit value of Rs 627.71 a kg as against 165 tonnes worth Rs 6.33 crore at the unit value of Rs 382.80 kg in the same period last year.

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