CARDAMOM

 

May is the last production month of the 22-23 season. New crop will begin until October 2023. 

The season has been a large one for Guatemala and India. Guatemala is still expecting to reach above 55k tonnes of production. A lot of the cargo is still on the way to destinations, and this is limiting upside as importers take profits. India is also a bit pressured lately with rumors of large carry over stocks and a good upcoming production. 

On the other hand, prices this season have reached low levels where additional consumption and demand has been triggered. Added to this is the possible impact of expectations on dryer weather (not yet there). Both of these factors are generating continued interest in the product and are therefore supporting prices.