KOCHI: Exports of small cardamom showed a sharp decline in volume in 2016-17 with a marginal dip in terms of value realisation when compared with the performance in 2015-16.
Total shipments of the aromatic spice stood at 3,850 tonnes valued at ?421.50 crore in 2016-17 as against 5,500 tonnes valued at ?449.83 crore in 2015-16.
Exports showed a 30 per cent drop in quantity and 6 per cent decline in terms of value.
The decline in exports could be attributed to the rise in the price of the commodity due to a fall in total production in the last crop. Besides, non-availability of exportable grade material at affordable prices has aided a fall in export demand, said export sources in Kumily (Kerala).
However, exports have surpassed the official target of 3,750 tonnes, valued at ?300 crore, said Spices Board sources.
Meanwhile, cardamom prices have shown some improvement of late due to bullish sentiment created by lack of South-West monsoon rains for over a week in the main growing region of the crop, Idukki district, coupled with a delay in arrival of the new crop, PC Punnoose, General Manager, CPMC, told Business Line.
He said export enquiries are pouring in and that, in turn, is having a positive impact on the market. Total arrivals during the current season up to June 17, 2017 were at 18,755 tonnes and sales were at 17,829 tonnes. Individual auction average for the season as on June 17 was at ?1,105.01 a kg.
At the Saturday auction conducted by Mas Enterprises, Vandanmettu, 35 tonnes of cardamom were traded. The maximum price was 1,266 a kg while the auction average rose to ?1,014.32 a kg from ?951 the previous Saturday.
Auction by CPA on Monday forenoon remains suspended till the end of the month, sources said. In the afternoon auction 17 tonnes of cardamom arrived and the market is showing a firmer trend, said Ranganathan, a Bodinayakannur dealer.
Prices at Bodinayakannur, the main trading hub for the aromatic spice, were (in ?/kg) : 8mm bold: 1,300; 7-8mm: 1,1501,160; 6-7mm: 900; below 6 mm: 825-850. Medium bulk was being traded at ?1,000 a kg.
Source: Thehindubusinessline.com
