Indian Cardamom Annual Report 2021

This week the Cardamom spot market had a mixed trend. Despite the price going down in the early week for all the varieties, the market became stable from Wednesday.

Market Trend

• There are reports of a 10 percent crop loss in Kerala’s Cardamom growing regions like Idukki. As a result, the market can become appreciative in the future.
• Already, the fourth round of picking for the pods has started on the first week of December.
• Also, the overall export demand is still less for the spice.
• The COVID-19 travel restrictions in South Asian countries, along with an increase in freight prices and shortage of containers, have contributed to lessening to no requirement of export demand for the crop, which has also contributed to the capping of the prices.
• After the third round of harvesting has been completed, the quality supply of the new crop is made available in the market.
• Currently, due to the low pricing of the spice, the stockists and platers are holding on to their crop and will release them when the price becomes appreciative.
• The season for this year has started from August 1, and till December 14, the crop arrival in the market is down by 14.95% compared to last year. This year between August 1 and December 14, the market received 6,008 tons compared to last year’s 7,064 tons during the same period.

Price

Green Cardamom 8 mm

Prediction

With increased production of the crop, the experts of the market are of the opinion it will put a cap on the pricing of Cardamom for the next market year. While earlier, it was predicted for the years 2021 and 2022, the production would be between 22,000 and 23,000 MT, but with favorable weather, the expected production will reach almost 30,000 MT. But with 10 percent crop loss in Idukki, it remains to be seen how it will affect the price in the coming days.

 Cardamom Market Arrivals