The trend of the arrival of cardamom in auctions continues. However, even after this, its average auction price is continuously decreasing. According to market experts, even with the onset of monsoon across the country and a slight reduction in temperature, there is no chance of improvement in the small cardamom spot in the coming days.
In the Green Cardamom Trading Company auction held today, the arrival of small cardamom was reported to have come down to 42,835 kg. However, despite the comparatively low arrivals, its average auction price was reported as $10,32 per kg due to weak buying. The auction held on June 27 was for 47,455 kg at the average auction price of $10,63.
The Meteorological Department has said that the country’s monsoon has gradually become active. However, due to the rain, there is only a slight decrease in the temperature. However, in the capital of Delhi and its surrounding areas, the weather is primarily still hot and humid. This is why the uptake of small cardamom has started slowing down a bit. There is also a possibility of exports being affected due to the lack of containers and skyrocketing sea freight costs.
Due to sluggish buying in the capital’s wholesale grocery market, 7.5 mm of small cardamom has recently declined by $0,63 to reach $12,02 – $12,65 per kg.
According to the 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 the financial year 2021-22, which is 39 percent higher compared to the previous year. However, currently, there is no prospect of improvement in cardamom prices.
The Cardamom green 8 mm prices were Recorded at $17,76 per kg FOB
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