Cardamom price shows positive trend in peak crop season

The price of cardamom is showing a positive trend during the main harvesting period in September in the State, a rarity as usually there is a dip in the prices in this period.

According to the Spices Board sources, the ongoing cardamom auctions are witnessing high sales, with the farmers receiving better prices. They said that during the peak crop season every year, the cardamom market normally sees a decrease in prices due to cardamom’s increased inflow. However, this year the market is showing an increasing trend, with the farmers receiving around ₹2,500 to ₹2,600 per kg for their product.

“At present, about one lakh kg of cardamom arrives for every auction, which is sold out,” said the source.

An average price of ₹2,575 a kg was quoted in the morning auction at Spices Park, Puttady, on Wednesday. In the morning auction held by Idukki District Traditional Cardamom Producer Company Ltd, the maximum price quoted was ₹3,015. Of the 78,733 kg of cardamom that arrived, 78,172 kg was sold.

Santhosh Joseph, a cardamom exporter and owner of Allus Cardamom Point, said that during the last season, almost all of the produce, including those kept on stock, was sold out due to high price. This, combined with the lower production of cardamom in Guatemala has led to its high price even during the peak harvesting season. “The vendors are receiving good export orders, which is also helping in strengthening the market. The present market conditions are expected to continue till Deepavali,” said Mr. Joseph.

He added that the heavy import duty imposed by the U.S. will not negatively impact the cardamom sector. “Middle East countries are the major buyers of cardamom, with the U.S. importing only a very small quantity of cardamom from India,” he said.

Stany Pothen, chairperson of the Cardamom Planters Federation, said, “Recently, I visited the main cardamom-growing area in Guatemala and found that the production is very low in the area. This is behind the increasing demand for cardamom in the market globally.”