Cardamom prices show an increase, average price touches ₹1,858 a kg

Daily arrival for auctions is nearly 2 lakh kg and the average price is expected to touch around ₹2,000 a kg soon

December 28, 2023 - IDUKKI

THE HINDU BUREAU

After a four-month gap, cardamom prices started showing a positive trend, providing hope to farmers and vendors. Cardamom recorded an average price of ₹1,858 a kg on Thursday.

In the morning auction held by Mass Enterprises Limited, Vandanmedu, of the 1,08,018 kg arrived in 302 lots, 1,07,145 kg was sold at a maximum price of ₹2,742 a kg and average price of ₹1,858. At the evening auction held by Spice More Trading Company, Kumily, of the 82,647 kg that arrived in 241 lots, 82,426 kg was sold at a maximum price of ₹2,280 a kg and an average price of ₹1,783.

Johny Vattathara, managing partner of Spice More Trading Company, said that local and outside orders were behind the sudden increase in cardamom price. “The daily arrival of cardamom for auctions is nearly 2 lakh kg. Now the market is showing a positive trend and the average price is likely to touch ₹2,000 a kg soon,” said Mr. Vattathara.

According to Spices Board sources “the cardamom price increased around ₹200 a kg in three days. The sudden increase in price will be helpful to farmers. We are not sure how many days the present trend will continue.”

According to farmers, normally the first crop arrives at the market in July last week. Due to the absence of proper southwest monsoon rain, the crop season was delayed and there was a fall in production. After the robust northeast monsoon, the farmers expect average production.

Shaji Thakidipurath, a cardamom farmer and vendor at Pathumury in Kumily, said the price increase was expected to continue in the coming days. “The price increase will be helpful to cardamom farmers who stocked the produce,” he said.

Cardamom Planters Federation chairman Stany Pothen Nedumpuram said that following inadequate southwest monsoon, a fall in cardamom production was expected and the average price crossed ₹2,200 in the first week of August. “The price fell following good northeast monsoon. Most plantations received average crops and the harvest season may last till February,” he said.