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Cardamom market showing a positive trend

January 23, 2023 08:26 pm | Updated January 26, 2023 10:09 am IST

Farmers welcome the positive trend, the reasons for which is uncertain

After a long gap, the prices of cardamom have started registering a positive trend.

As the cropping season enters its final leg in January, the maximum price touched ₹1,900 per kg.

At the evening auction held at the Spices Park at Puttady on Monday, the average price increased to ₹1,119 per kg. In the morning auction held by Mass Enterprises Limited, Vandanmedu, of the 1,01,899 kilograms arrived in 317 lots, 98,649 kg was sold at a maximum price of ₹1,905 per kg and an average price of ₹1,160.

In the evening auction held by Spice More Trading Company, Kumily, of the 62,872 kilograms arrived in 211 lots, a quantity of 57,194 kg was sold at a maximum price of ₹1,595 per kg and an average price of ₹1,193.

According to stakeholders, the cardamom market has been showing a positive trend for the past 10 days. The actual reason for the boom in prices is yet to be identified.

The trend was particularly welcomed by the farmers, as the price of cardamom had been falling over the past some moths even touching a low trading at ₹600 to ₹700 per kg. The average price stood below ₹850 in auctions, triggering protests by farmer groups.

The recent trend could be a reflection of the Ramadan purchases made by foreign countries, said Anjo Jose, executive director of Mass Enterprises Limited.

“Now, the crop season is nearly end-level but the arrival of cardamom in the market is on a high level. The new price increase will provide confidence to cardamom farmers,” he said.

M.J. Joseph Mattapparampil, a cardamom vendor in Kumily, said that the price increase in the last phase of the crop season could have been more beneficial for the farmers. “Most small-scale farmers already sold out their product with low prices,” he said.

Johny Vattathra, managing partner, Spice More Trading Company, Kumily, said the price had been picking up was showing a strong and steady trend. “ The low price increased over 300 per kilogram and average price increased ₹250 per kilogram,” he said.

To some like Joseph Thomas, a small-scale farmer in Kumily, the new price increase was not of much help. “I kept my product till the first week of January with the hope of a price increase. At last, sold the product at ₹970 per kg. The situation is the same for most of the small-scale farmers,” he said.

The highest-ever price of cardamom was recorded on August 3, 2019, when it touched ₹7,000 a kg at an auction held at Puttady.

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