Mumbai, July 3 (CommoditiesControl): In the past week, cardamom prices across major markets have experienced a downward trend as buyers remain cautious. The price for small cardamom has seen a reduction due to an increase in market arrivals and a slight uptick in supply.
The average price per kilogram has decreased to Rs 2,039-2,071, compared to the previous average of Rs 2,124. The highest recorded price per kilogram has fallen to Rs 2,700 from Rs 2,799 in the last session.
This drop in prices coincides with recent weather developments in the major cardamom-growing regions, which have received abundant rainfall. The rainfall this week was 20% lower than the Long Period Average (LPA), improving the overall rainfall deficit to 26% from 35% the previous week. This reduction in deficit is expected to benefit crop growth in the long term.
Arrivals of cardamom in the markets have surged from 46,047 kg to 86,605 kg as both trading centers resumed operations. The offtake also increased to 44,203 kg from the previous session’s 42,203 kg. The offtake rate improved to 96%, up from 94.3%, reflecting a heightened demand.
Grade-specific rates have also shown a decline, paralleling the drop in bulk prices. Currently, 7 mm grades are priced between Rs 2,040 and Rs 2,100 per kg, 7-8 mm grades are priced between Rs 2,240 and Rs 2,300 per kg, and grades 8 mm and above are valued between Rs 2,460 and Rs 2,620 per kg.
As the weather conditions favor better crop development, the cardamom market is likely to see fluctuations in prices and supply dynamics in the coming weeks.
(By CommoditiesControl Bureau: +91-9820130172)
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