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Downward trend in cardamom prices continues
Our Bureau Kochi
CARDAMOM prices continued to move southwards at the auction centres in the State and in Tamil Nadu early this week, hitting a low of Rs 545 per kg after ruling at Rs 659 last month. Poor buying support led to a price fall by Rs 113 a kg. Traders expect a further fall by another Rs 100. Demand at the auction centres was confined mainly to exporters, who have already made commitments, as domestic buyers expect arrival of Guatemalan variety sometime this month and have been absent at the auctions. Guatemalan variety is quoted at $14 a kg, while the Indian variety is at $17.5.The situation is no different with lower quality stuff which is around $7 lesser than the Indian variety. Guatemalan varierty is likely to arrive after the Diwali season demand which may bring some solace to the domestic producers. Added to this, has been the good harvest in the country. This is expected to raise production by at least five per cent. However, this was not matched at the arrivals at the auction centres, according to sources. Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.
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