Traders in spot markets have withdrawn from selling the goods at further discounts following a swamp in small cardamom. It has led to a price increase of $0,64 – $0,96 per kg at auction centers.
The new goods will take at least one and a half months to arrive. As a result, the market can increase by at least $1,28 more.
The horticulture and maintenance of small cardamom have been done more in the productive areas of South India.
Despite favorable weather, the crop will arrive on the market 15 to 20 days late.
There are reports of exporters buying old goods. Also, the prices of Indian small cardamom have come down significantly compared to Guatemalan cardamom. On the other hand, the cost of Vietnamese is accelerating gradually.
On the other hand, the availability of old stock has led to a recent slump in the price. Experts state that there has been a decline in the price by 24-25 percent on average for small cardamom this year.
According to experts, the production will be between 11 and 15 thousand tonnes like last year.
Weddings are going on more in rural areas, due to which the demand for light goods has started coming out. However, the consumption will remain for one month, while the new goods will come after a month and a half. In such circumstances, the market is not looking sluggish, but with the improved demand, $1,28 per kg may increase once before the new goods arrive.
The Cardamom green 8 mm prices were Recorded at $17,77 per kg FOB.