A new crop of cardamom has started in major producing states. Despite this, its arrivals in the market remain comparatively low. Therefore, as long as the arrivals remain relatively low in the coming days, the market will not expect a downtrend.
South Indian states including Kerala and Karnataka have got good crops this time. Though, these states have also received heavy to very heavy rainfall therefore now the fear of loss of about 10-15 percent to the new crop of green cardamom. However, the exact situation is not yet clear about crop damage. The new crop of small cardamom has started to arrive in small quantities in the major producing states. Even after this, the arrival of crops to the major grocery market in auctions is comparatively more low. The average auction price was reported to have risen to $12 per kg.
Traders state that exports being affected due to shortage of containers and freight costs is still high. According to the data released by the Spices Board, exports of small cardamom in terms of volume jumped 43 percent to 2,776 tonnes in the first three months of the recently ended financial year 2022-23. This generated an income of $40 million. Earnings are 5 percent higher as compared to the reporting period of the previous financial year.
According to the experts in the coming days, unless there are sufficient quantities of the arrival in the spot market, it is unlikely to decrease.
The Cardamom green 8 mm prices were Recorded at $17,85 per kg FOB.
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