Poor arrivals have forced auctioneers to cancel cardamom auctions in the afternoon session at Puttady on Friday.
According to traders, apart from a few exceptions, arrivals in the last few days had declined. When the quantity on offer was low, participation from buyers in the auctions, especially in a trade centre like Puttady, would also be minimal, which had forced auctioneers to put off a trading session.
The South Indian Green Gold Cardamom Company offered 42 tonnes in 216 lots today. Traders expect a steady market with the participation of local and upcountry buyers.
However, they are concerned about slow movement, with some price instability.
According to trade analysts, Acumen Capital Markets, March futures fell by 3.85 per cent or Rs 99.6 to Rs 2,483 at close on Thursday. The March futures price has shown some weakness on the daily chart.