According to trade sources, the 1998-99 cardamom season is closed and no stocks are being held over by farmers, who earlier, were reported to have held on to some stocks expecting the prices to break the Rs 650 barrier.

The Vandanmedu auctions were held on May 29 by the Cardamom Marketing Corporation. A total of 54,673 kgs were sold at the auctions at an average price of Rs 663 per kg. At the May 30 auctions held by the Indian Cardamom Marketing Company at Cumbum, a total of 23,000 kgs of cardamom was sold at an average price of Rs 650 per kg.

Meanwhile, price of cardamom is expected to move up in the intervening period between now and the beginning of the new season. It is expected to begin next month, earlier than usual thanks to the heavy rains being experienced in the cardamom-growingareas of Karnataka, Tamil Nadu and Kerala.

Because of this, farmers are expecting a bumber crop compared to the 40 per cent drop in cardamon yields in the season just concluded. Between August 1998 and May 28, 1999, a total of 28,88,621 kgs of cardamom has been sold at an average price of Rs 565.91 per kg against the previous year's 39,23,878 kgs at an average price of Rs 282.87 per kg.