Indian cardamom prices rise on strong demand
INDIAN cardamom prices have been rising recently due to strong domestic demand. Average prices in Kumily, Kerala – the country’s main cardamom-selling centre – reached Rs419 ($9) a kg, a three-year high. The coming festival season and reports of a decline in Indian production of up to 30% from last year’s level are thought to be the main factors spurring demand. Stocks in northern India are thought to be exhausted. However, while domestic demand for Indian cardamom is strong, international buyers are still favouring the Guatemalan product. Guatemala typically produces more than twice as much cardamom as India, but has negligible domestic consumption.