Mumbai, June 28 (CommoditiesControl): Cardamom prices in major markets have been reported lower for the past 3-4 sessions as buyers remained cautious. The recent week saw significant rainfall in the major cardamom-growing regions, which is expected to improve crop growth. Rainfall in these areas was 21% higher than the long-period average (LPA) during the week.
The average price per kilogram of cardamom ranged from Rs 2,192 to Rs 2,195, lower than the previous session's average of Rs 2,189 to Rs 2,246. The highest price per kilogram was Rs 2,829, a decrease from Rs 2,758 in the previous session.
Market arrivals increased sharply, from 49,350 kg to 83,216 kg. The offtake also rose, reported at 78,678 kg, up from 46,560 kg in the previous session. The offtake rate was 94.5%, slightly higher than the previous session's 94.2% due to lower demand.
Meanwhile, the April EXIM data revealed that imports were 56% lower than last year, totaling 489 metric tons (MT), while exports surged by 160% to 897 MT. The increase in exports was driven by higher demand from the Middle East and Bangladesh for Eid. However, sources indicate that demand has been lower in recent weeks.
Grade-specific cardamom prices remained stable, with 7 mm grades priced between Rs 2,180 and Rs 2,260 per kg, 7-8 mm grades between Rs 2,360 and Rs 2,440 per kg, and grades 8 mm and above ranging from Rs 2,600 to Rs 2,860 per kg.
Overall, the lower prices and increased arrivals indicate a cautious market environment, influenced by higher-than-average rainfall and fluctuating demand dynamics.
(By CommoditiesControl Bureau: +91-9820130172)
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