With the increase in the arrivals of small cardamom in the spot markets and various auction centers, sales have remained sluggish. As a result, the average auction price has turned bearish. According to market experts, the small cardamom prices are unlikely to go up in the upcoming days.
Current Scenario
Now it is getting hot in North India. In many areas, the temperature is also reported to exceed 45 degrees Celsius. Even so, the off-take of small cardamom remains relatively sluggish.
Due to the fluctuating situation in the cases of coronavirus infection, not only is this, but uncertainty also remains. Also, the off-take of small cardamom in the capital’s wholesale grocery market remains relatively sluggish. However, though half of May is over, the arrival of small cardamom in various auctions has started increasing once again.
Due to weak production in Guatemala and the price of Indian small cardamom remains attractive. Therefore, exporters’ activity is expected to stay strong. But the lack of containers and skyrocketing sea shipping costs are getting affected.
Prediction
According to the data released by the Spices Board, exports of small cardamom by volume jumped 68 percent to 7337 tonnes in the first nine months of the just-concluded financial year 2021-22.
This resulted in an income of $12,94 million. Earnings are 39 percent higher than the reporting period of the previous financial year. There is no prospect of a rise in small cardamom in the spot in the coming days.
Price Trend
Small cardamom 7 and a half mm has recently remained bearish by $1,29 and remains at the $12,25 – $12,88 per kg level due to sluggish buying in the capital’s wholesale grocery market.
Earlier, there was a recession of $0,64 per kg in it.
In the Sugandhagiri Spices Promoters and Traders Private auction, the arrival of small cardamom was reported to have increased to 54,609 kg.
Its average auction price declined to $10,36 per kg due to comparatively higher arrivals and relatively weak buying.
Earlier, this auction held on May 7 saw arrivals of 40,379 kg, and the average auction price was $12,13 per kg.
Green cardamom 8 mm
| Date | Price |
| May 11 – 16 | $17,79 per kg FOB |
| May 3 -10 | $ 17,89 per kg FOB |
| May 2 | $ 17,99 per kg FOB |