The big cardamom market is poised to stay strong in the coming days due to unfavorable weather conditions and anticipated heavy losses in the central producing states. The first crop of big cardamom typically arrives in late August or the first fortnight of September. However, reports indicate that the crop faced higher-than-normal temperatures during its growth phase in the central producing states. In addition, there has been an outbreak of insects, further jeopardizing the first crop with an estimated loss of up to 70 percent. The recent heavy rainfall and resulting floods have added to the challenges, potentially impacting the crop’s future. The second crop is also expected to be weaker than usual, exacerbating the situation.
Consequently, the local wholesale grocery market has witnessed a surge in the price of big cardamom due to increased buying by stockists. Auction prices have also increased slightly due to relatively low arrivals in the most recent auction. Reports of significant crop losses in other crops in Assam during the current season have also surfaced. Damage to crops in Bhutan and Sikkim has also been reported, further impacting the availability of big cardamom in domestic markets.
It is worth noting that Nepal is a significant importer of big cardamom, and currently, only 5 to 10 thousand bags of stock remain available there. In the fiscal year 2022-23, the export of big cardamom decreased by 5 percent to 1,883 tonnes, with revenue declining marginally by 11 percent compared to the previous year. The auction of big cardamom has been irregular this season due to reduced availability. Looking ahead, the market for big cardamom is expected to remain robust, creating demand in the spot market in the coming days.