Small cardamom prices expected to remain strong due to fears of decline in production

14-Oct-2024 08:32 PM

Idukki. Of course, even during the peak festive season, the price of small (green) cardamom is not increasing as expected, but in view of the fear of a huge decline in production, its prices are expected to remain strong in the coming months.

The plucking and preparation of new goods has started gaining momentum and the arrival in the auction centers is also increasing, but the purchase is not happening accordingly.

Last week, more than 75 tonnes of cardamom arrived in an expected auction in Kochi, but due to weak demand, its average price decreased slightly to Rs 2215.46 per kg. In the third week of September, the average auction price had reached above Rs 2370 per kg.

This time the cardamom crop in Kerala, Tamil Nadu and Karnataka has suffered a lot due to adverse weather, due to which its production is likely to fall drastically.

January-February is usually the time of strong arrival of new crop and after that the supply starts decreasing. This time the crop is weak, so the supply pressure may reduce after November-December. Export demand will also affect the prices of cardamom.

Data from the Spices Board shows that during April-July 2024, the export of small cardamom from the country increased to 2072 tonnes,

which was much higher than the export of 1406 tonnes in April-July 2023. During the same period, its export income also jumped from Rs 182.15 crore to Rs 354.61 crore.