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
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