The fresh harvest of small cardamom has been underway for the past four months, leading to robust production and a substantial accumulation of stock in the mandis due to the retention of old inventory. However, the market has experienced a downturn due to diminished exports resulting from low prices in the international markets.
Recent trends show an escalation of approximately 22 to 23% in the influx of small cardamom at auction centres over the last 20 days. Reports suggest that goods are now fetching an average price of roughly $16,20 to $17,40 per kg, signifying a decline in value. The current production of small cardamom has reached impressive figures, hovering around 15 – 15.25k tonnes.
A contributory factor to the market slump is the drop in Guatemala’s small cardamom pod prices by an estimated $0.68 per kg, culminating in decreased exports. Nonetheless, there exists a glimmer of hope for gradual market growth as shipments to SAARC countries have commenced, and exporters are showing keen interest, indicating potential upswing.
Although adverse weather conditions in South India may result in some crop damage, the arrival of new stock is yet to materialize. Despite the bearish trend, current prices seem to have reached a stabilizing point. With rainfall returning to normalcy in major producing states, prospects for a gradual increase in small cardamom appear promising in the coming days.
In conclusion, while the small cardamom market has encountered challenges, there are favourable possibilities for growth and a gradual upward trajectory in the foreseeable future. One can procure small cardamom in present market situations.