Cardamom prices have held firm despite availability of prior to the halting of auctions on December 5. The auctions had resumed after more than 20 days on December 27.
In Wednesday's auction, the average price was ruling at Rs.515.98 a kg, substantially above the closing level on December 5, an indication that exporters were active in the market. The highest price recorded was Rs.672 a kg.
A total of 73,441 kg in 262 lots was on offer and all the lots were sold. The auctions were held under the aegis of Cardamom Processing and Marketing Cooperative Society, Kumily. There was no auction on Thursday.
Auctions resumed with good response from traders, nearly 50 of them from Tamil Nadu participating in the proceedings at the Puttady Spices Park, Idukki.
South India Green Cardamom Company had put up 102 tonnes of cardamom on sale in 397 lots. About 60 per cent of the quantity was sold by the afternoon itself. Demand was good and the average price touched Rs.542 a kg as against the two auctions on December 5 when the average price ranged between Rs..455.80 and Rs.472.12 a kg.
Meanwhile, the Kerala State Cooperative Marketing Federation has entered the cardamom market, procuring more than 5,000 kg of the produce at Nedumkandam on Wednesday. The Chairman of the Federation, S. Sathyasheelan, said that the cooperative's aim was to support the farmers. The move was initiated after the auctions came to a halt on December 5.
