Cardamom prices continued to shoot up on strong demand amid decline in arrivals with the auction average crossing ₹840 a kg mark almost after 18 months.
At today’s auction conducted by the South Indian Cardamom Company Limited, 70.4 tonnes arrived and the entire quantity was sold. The maximum price was at ₹1,292 a kg and the auction average stood at ₹832.95 a kg.
At the afternoon auction yesterday by the Idukki District Traditional Cardamom Producer Company Limited, the auction average was at ₹844.62 while the maximum price fetched was ₹1,206 a kg.
Whereas, on June 20, 2015 the auction average was at ₹635.94 a kg.
Last time the prices crossed ₹800 a kg was on January 11, 2015 when prices stood at ₹840.15. At the same time on December 30, 2014 the auction average was at ₹1,600 a kg.
The upsurge in prices, at present, is attributed to the strong domestic demand following apprehensions about a decline in next crop which will be long delayed and likely to be available by August end, PC Punnoose, General Manager, CPMC Kumily, told BusinessLine.
Source : Business Line