Small Cardamom Price Will Vary Depending on the Rain

Mintec Global
Spread the news!

The Meteorological Department has issued a ‘Red Alert for the first four days of the current week for rain in South India, including Kerala and Tamil Nadu. However, there was no report of heavy rain in Kochi, Kerala, for the second consecutive day.

According to market experts, the boom or recession in the price of small cardamom in the coming days will depend on the rainfall in major producing areas.

It is reported that despite the heavy rain, the increase in the arrival of small cardamom continues.

In the 1st CPA, Sandhanpara auction held today, the arrival of small cardamom was reported to have increased to 37,402 kg. Its average auction price was said to have come down to $11,67 per kg due to comparatively higher arrivals and sluggish buying. Earlier, this auction held on July 26 was for 28,278 kg of small cardamom, and its average auction price was $11,74 per kg.

There has been a slight increase in the wholesale price by $0,06 per kg after the red alert.

The overall trend for the Indian cardamom export market is not in favor. Experts of the market stated that there is also a possibility of exports being affected. The shortage of containers and skyrocketing sea freight costs put international buyers off the market.

According to 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 financial year 2021-22. Earnings are 39 percent higher as compared to the reporting period of the previous financial year. But it can change if the export market does not support the buyers.

The Green Cardamom 8 mm prices were Recorded at $17,70 per kg FOB.