Earlier this month, the cardamom market swung towards a bearish mode for a day despite the decrease in the arrival of the spice in the various auction centers. But as per market experts, the price will not go any further south in the coming days and will stay stable.
Current Scenario
The weather is getting hotter, and the temperature exceeding 45 degrees Celsius in north India is reported to impact the activity of the cardamom spot markets. As a result, the off-take for the cardamom has been reported to be sluggish in north Indian states.
Also, the increase in the case of Coronavirus has made the market sluggish in the capital state.
Experts believe the first week of May has passed, and it is natural to have sluggish.
In the Idukki District Traditional Cardamom Producer, Company Limited auction was held. As a result, the arrival of small cardamom has come down to 44,557 kg.
Its average auction price rose to $10,74 per kg due to lower arrivals and relatively higher buying.
Exporters’ activity is expected to remain strong due to attractive Indian small cardamom prices.
However, exports may be affected due to the shortage of containers and skyrocketing sea freight costs.
Small cardamom 7.5 mm has remained at the level of $14,86/15,51 per kg for the last few days due to sluggish buying in the wholesale grocery market in the capital.
According to the data released by the Spices Board of India, exports of small cardamom in terms of volume jumped by 68 percent to 7337 tonnes in the first nine months of the recently ended the financial year 2021-22. For which the income was reported to be about $12,99 million. Earnings are 39 percent higher than the reporting period of the previous financial year.
Prediction
Experts believe that there won’t be any reduction in the price.
Price Trend
Green Cardamom 8mm
| Date | Price |
| May 9 | $17,89 per kg FOB |
| May 2 | $17,99 per kg FOB |