In the southern states like Kerala and Karnataka, the weather is expected to turn once again soon. There is currently no accurate estimate regarding the damage to the new small cardamom crop due to the recent rains. Therefore, small cardamom is expected to remain strong in the coming days.
After the recent rains in South Indian states like Kerala and Karnataka, the weather was temporarily clear during the last few days. However, the Meteorological Department has once again predicted the turn of the weather during the current week. However, despite the clear weather, there has been a decrease in the arrival of small cardamom in the auctions market. Its average auction price was reported to have increased to $12,25 per kg in domestic markets due to comparatively low arrivals and improved buying. Earlier, in this auction held on August 3, 89,615 kg of small cardamom had arrived and its average auction price was $12,16 per kg. For the past few days, the monsoon has remained active in other states of South India including Kerala. Even after the arrival of the monsoon in the capital Delhi, good rains are awaited. There is also a possibility of exports being affected due to shortage of containers and skyrocketing sea freight costs. Small cardamom 7 and a half mm has remained stable at the $14,74/15,40per kg level for the past few days due to increased buying in the capital’s wholesale grocery market. Recently it had gained $1,92 per kg. According to data released by the Spices Board, exports of small cardamom in terms of volume jumped 68 percent to 7337 tonnes in the first nine months of the recently ended financial year 2021-22. This resulted in an income of 10,050 Million. Earnings are 39 percent higher as compared to the reporting period of the previous financial year. Small cardamom is expected to remain strong in the spot in the coming days.
The Cardamom green 8 mm prices were Recorded at $17,76 per kg FOB