Large cardamom is witnessing intermittent slowdown since the beginning of the current month due to weaker than average sales. Its first crop is also going to start next month. This is expected to put further pressure on the market. Therefore, there is no possibility of increasing cardamom in the spot in the coming days.
Meteorological Department stated that South India received less rainfall at the start of the monsoon. However, South India has been receiving good rain for the past few days. On the other hand, after the floods, the situation in Assam is gradually returning to normal. Since there is no major cardamom production in Assam, there is nothing much to worry about due to this flood.
Although there are only about one-and-a-half months left for the start of the new big cardamom crop, this flood is not expected to have any significant impact on the market situation. This is why in the auction held on the previous day, the average auction price of cardamom was reported to be bearish to $5,94 – $8,36 per kg.
Due to a sharp decline in the domestic and international production of large cardamom during the current season, there was a significant jump in it early in the season. After this boom, business activity has remained sluggish for some time due to a slowdown in business activities. Due to unfavorable weather conditions during the critical period of crop growth, estimates are being made for the production of large cardamom in the country to be much weaker than the first normal during the current season. However, with the sluggish demand, the rise in spot markets is not expected.