Despite the slump in the price of Green Cardamom varieties earlier this month, i.e., January 5, the market remains steady for the spice. There is a good demand that keeps the commodity’s market stable.
Market Sentiment
- According to experts, the weak demand earlier this month may have led to the price dropping for all Cardamom varieties.
- The other factor keeping the market stagnant and not allowing it to move up is the COVID-19 variant Omicron causing travel and export restrictions globally.
- The increase in freight prices and the shortage of containers have contributed to less to nill requirement of export demand, which has contributed to the price cap.
Prediction
- With increased production of the crop, the experts of the market believe it will put a cap on the pricing of Cardamom for the following market year.
- Earlier, it was predicted for the years 2021 and 2022, the production would be between 22,000 and 23,000 MT, but with favorable weather, the expected output will reach almost 30,000 MT.
- There are also reports of 10 percent of crops getting damaged in the Idukki region of Kerala due to recent floods. But the overall quantity of the produce for 2022 won’t be affected due to the crop loss in Idukku. Hence the pressure on the price is expected to remain.
Prices
Green Cardamom 8 mm
| Data | Price |
| January 12 | $17,00 per kg FOB |
| January 4 | $17,05 per kg FOB |
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