Kerala   

Drastic decline in cardamom prices

Low price:A bumper harvest is expected in the coming season with the prevailing favourable climatic condition and increase in the area of cultivation.

KATTAPPANA: With the fluctuations ruling high at the auction centres, the prices of cardamom reached the lowest level in the recent times at an auction held at Bodinayakanur, Tamil Nadu, by the Cardamom Planters' Association on Monday last.

The maximum prices quoted on Monday was Rs.643.50 a kilogram while the average price was Rs.545.54. Of the 31,701 kg of cardamom arrived at the auction centre, only 17,097 kg was sold and 14,604 kg was kept as stock. This was the lowest price in recent times.

On Sunday last, 63,542 kg of cardamom arrived at the auction centre and the average price was Rs.588.88, while the highest price quoted was Rs.1,030. The auction continues throughout the week at the spices park in Puttady and Bodinayakanur.

Bumper crop

There is a fear among the cardamom growers that the prices might further decline. According to sources at the auction centre, high level of arrival during the offseason was the reason for fall in the prices.

Traders expect a bumper production in the coming season with the prevailing favourable climatic condition and increase in the area of cultivation.

A portion of the arrival was held over as stock when the prices started a declining trend, further dipping the prices. K.K. Devasia, executive secretary of the Cardamom Growers Association, said there was a high internal demand prevailing in the market though large quantities of old stock reached the auction centres. He said that this may be the reason for fall in the prices.

When the price had reached above Rs.1,500 a kg, the farmers held back the stock on the expectation of reaching it above Rs.2,000 and when it slowly started declining they held back the stock on the hope that it may stabilise soon. However, it fell further with high fluctuations in each auction with wide gap between the highest price and the average price.

At Friday's auction, the total arrival was 22,155 kg in 162 lots. The maximum price quoted was Rs.856.50 and the average price, Rs630.07.

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