The average price of large cardamom has improved slightly in the recent auctions due to limited selling by growers at current prices. Due to this, the sentiments of the spot market may also be affected. In the coming days, the fear of big cardamom and bearishness in the spot has started reducing a bit.
Cardamom crop is in progress in major growing areas. However, till now it is coming in limited quantity. Domestic markets are offering less due to arrivals of the new crop, that’s why growers have now limited the sale of their large cardamom crop. This is the reason that in the auction held a day earlier, the average auction price of big cardamom was reported to have increased slightly to $ 5,64/8,09 per kg. This time the weather has remained more or less favorable in this region and the first crop of big cardamom is expected to be good, contrary to the estimates expressed earlier.
However, there has been a slight slowdown in the spot markets and the average auction price recently after the start of the first crop. Farmers have limited the sale of this crop at a reduced price. On the other hand, unlike other states of the country, North Indian states like Haryana and Punjab, including the capital Delhi, are still waiting for good rains. The floods in the past, there have been reports of floods once again in Assam recently. Finally reports of clear weather are coming in South India.
There was a significant pick-up in markets in the early season due to a sharp decline in production from India and other origins of large cardamom. After this boom, business activities have remained sluggish for some time. Experts state due to unfavorable weather during the critical period of crop growth, the first season of large cardamom in the country was much weaker than normal. The important fact is that after the first crop, its main crop i.e. the second crop also came down by about 35-40 percent as compared to normal. This is the reason why the auction of big cardamom could not be regular in the bow season. Large cardamom imports from Nepal continued to be weak. Because of weak sales, the large cardamom has been bearish in domestic markets by $0,50 per kg and currently remains at $7,10 per kg level. Looking at the supply and availability position, it seems that the big cardamom bunch should not go below the current levels.
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