INDIAN cardamom prices have been on a consistent increase because of poor supply due to zero imports from Guatemala.
High demand from upcountry buyers and increased exports to West Asia has pushed up prices by 30% to 40% in just two months, the country’s Financial Express newspaper has noted. Auction prices of cardamom are averaging above Rs750 ($16.20) per kg in the last few auctions.
“Festival and winter demand is very good and this has helped the market to remain firm despite good arrivals,” said sources in the Kumily Cardamom Processing Marketing Company.
Reports indicated that India imports around 300 to 500 tonnes of cardamom a year, which helps in limiting the domestic price. The world shortage has also helped in more exports from India. “Exports during the month of October were almost 400% more than the same period last year, while they were around 100% more than the previous month,” Spices Board sources said.