Mumbai, June 10 (Commodities Control): Cardamom prices continued their upward trend in major markets as active buying persisted in anticipation of lower future supply. The average price of cardamom increased to Rs 2,546-2,550 per kg, up from the previous session's Rs 2,392-2,480 per kg. The highest price per kilogram reached Rs 3,010, slightly down from Rs 3,021 in the previous session.
Arrivals saw a dramatic increase as growers responded to the sharp rise in prices by bringing more material to the market. Total arrivals surged to 116,562 kg, compared to 48,603 kg in the previous session. However, arrivals from stockists and dealers were fewer. Despite the higher arrivals, offtake also saw a significant rise, increasing from 47,685 kg to 109,582 kg. The offtake rate, however, dropped to 94.0% from 98.1% in the previous session, still indicating strong demand but slightly less robust compared to the previous session.
Specific grade rates have seen a notable increase as bulk prices continued to rise. Prices for 7 mm grades ranged from Rs 2,020 to Rs 2,140 per kg. Grades measuring 7-8 mm were priced between Rs 2,200 and Rs 2,350 per kg, while grades 8 mm and above ranged from Rs 2,586 to Rs 2,560 per kg.
The market trends indicate that despite the increase in arrivals, strong demand is keeping prices high. Buyers remain active, anticipating that future supply might be lower, which continues to drive the price surge in the cardamom market.
(By CommoditiesControl Bureau: +91-9820130172)
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