With very little supply coming from the growers, traders are virtually ruling the auctions, sources told The Financial Express. ``Only about 25 per cent of the supplies are now coming from the farmers,'' an auctioneer said here.

This means cardamom prices are likely to rule higher in the coming weeks as the season closes.

This contradicts earlier perception that an expected bumper crop in the new season would dampen sentiments in the market. Unseasonal rains on the hill ranges of the Kerala-Tamil Nadu border had boosted hopes of a good crop in the new season.

The first week of April had seen cardamom prices reaching record levels and going beyond the Rs 1,000 per kg mark more than once. It reached a dizzy heights on April 2 when auctions held by Indian Cardamom Marketing Company (ICMC) at Kambam saw extra-bold and fast coloured cardamom fetching Rs 1,100 per kg.

On the previous day, auctions by Cardamom Marketing Company (CMC) at Kambam saw one lot of cardamom being sold for Rs 1,050 per kg.

The trend was set on the last day of March with auctions held by MAS Enterprises seeing good quality cardamom fetching Rs 1,001 per kg. However, auction sources said that these are just fancy prices and that it would not be sustained.

Sources pointed out that the lots that were sold for more than Rs 1,000 per kg did not contain more than 50 kg per consignment and that these fancy prices were paid just for handpicked cardamom of fast colour and of a size of more than 8 mm.

``Nothing of these will be exported,'' said an auctioneer as he cleared questions about the prospects of Indian cardamom making a comeback in the international market.

At present most of the consignments are being moved to North Indian centres as exporters have carefully kept away from the auctions. Auctioneers are now convinced that there will be no export buys in the coming weeks as the exporters would not be able to make price and quantity commitments amidst these wild fluctuations.

Both supply and prices are fluctuating and none of the known exporters were present at the auctions for the last three weeks.

Auctions held by CMC at Vandanmettu on April 8 saw a total sale of 24,800 kg at an average price of Rs 706 per kg. On the previous day, auctions held at Kambam by CMC saw a sale of 21,300 kg of cardamom at an average price of Rs 790.81 per kg. On Monday, auctions held by CPA at Bodinaikanur saw a sale of 10,600 kg at an average price of Rs 728.82 per kg.

A total of 5,800 tonnes have been sold through the auctions so far this season at an average price of Rs 476 per kg. During the same period last year, the total quantity was down by about 50 per cent but the average prices ruled at around Rs 600 per kg.