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Cardamom prices are hovering around Rs 1,000 per kg on average, which the growers say is insufficient as the cost of production has grown manifold.
After record exports in FY22, the robust trend that continued for the first few months of the current year has been halted by the flow of cheaper cardamom from Guatemala, the world’s largest producer of the spice, and sluggish demand from the major importing countries
Cardamom prices are down from around Rs 1,000 per kg to Rs 750 to 850 per kg. The market expects the rates to decline further with a new harvest season round the corner
The new measures were aimed at arresting the slide in prices of the spice. Sluggish export demand and weak buying in the domestic market had seen prices falling, and growers were saddled with excess stock.
Karvy Commodities Broking has come out with its report on spices. According to the research firm, Cardamom prices are expected to trade on a positive note in today‘s trading session. Good export demand from the Gulf countries due to the upcoming festive season (Ramadan) might add some positive sentiments in the cardamom market.
