Virus scare dampens cardamom sales

Coronavirus alert seems to have dampened the sentiments in the cardamom market, resulting in tepid sales in upcountry markets.

The Holi season is supposed to perk up demand for cardamom but the virus threat seems to have spooked the market, traders said.

Despite a single auction in Puttady on Friday, the market was up by ₹100 kg across all categories. Quality cardamom has fetched an increased price of ₹30-50 in the auctions.

The quantity offered by South Indian Green Gold Cardamom Company was 42.41 tonnes in which 40.9 tonnes was sold. The average price realised was ₹2,728 and some selected lots received the highest price of ₹3,421.

The afternoon auction was cancelled due to poor arrivals.

According to trade analysts Acumen Capital Markets, cardamom April futures fell by 3.9 per cent or ₹103.40 to ₹2,486 when last traded on Friday.

 

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Cotton remains under pressure as coronavirus scare disrupts trade

Weak overseas demand and continued trade disruptions caused by the coronavirus scare are putting pressure on cotton prices in the international and domestic markets.

Trade insiders believe that the global factors coupled with increased arrivals in the domestic markets will put more pressure on prices, which have already corrected by about 8-10 per cent in the past one month to touch ₹38,500 a candy (each of 356 kg of ginned cotton of 29 mm variety).

Crop outlook

Notably, international cotton futures have corrected from 70.69 cents for ICE May contract on January 29, to 62.43 cents on March 6, indicating a fall of about 12 per cent.

The Cotton Association of India (CAI), the apex trade body, on Friday retained its crop outlook at 354.5 lakh bales (each of 170 kg) for 2019-20.

Arun Sekhsaria, Managing Director of DD Cotton, which is a leading cotton exporter, told BusinessLine that from

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