Due to the relatively low opening of Indian small cardamom prices in Gulfood held last month, its export prospects have weakened considerably. Even after this, it is picking up pace intermittently due to speculative buying.
Meager price
According to the information received, the export price of small Indian cardamom in Gulfood is open between 8 to 18 dollars per kg, depending on the quality. Compared to the cost, this price is meager. The arrival of small cardamom in the auctions remained high due to continued selling by the producers. Looking at the latest arrivals level, all the earlier apprehensions about decrement in small cardamom production were unfounded. However, despite the increase in arrivals, the average auction price of small cardamom has also been hiking intermittently.
A decrease of 16% in export
According to the available data of the Spices Board, in the April-November period of the current financial year, 5355 tonnes of small cardamom have been exported from the country. In the period under review a year ago, 6354 tonnes of it was shipped. This shows that this time there has been a decrease of 16% in the quantitative export of small cardamom. In the coming days, the spot small cardamom price may remain in a vortex of uncertainty as there is speculative buying and no vital factor that can determine the cardamom market trend. It’s a wait-and-watch scenario for now.
The Cardamom green 8 mm prices were Recorded at $21,24 per kg FOB.
Import/Export Statistics
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