KOCHI – Indian cardamom farmers can enjoy a bit of respite as the spice export is jumping to 251% for the FYI 2020-21. The demand for cardamom export hit the record earlier this year and held a steady price until the second wave of the pandemic hit.
The farmers and traders had little time to rejoice since the domestic demand for the spice was sluggish. Further woe to the problem is the oversupply of cardamom and the prices plunging meanwhile.
The mandis in Kerala and Tamil Nadu just before the lockdown had to sell cardamom for USD 10,74 – 13,43 a kg compared to March-April’s rate of USD 20,14 – 21,49 a kg. According to the traders at the auction centres, the sluggish nature resulted from the complete lockdown of the western and northern parts of India. They are the primary consumer of the product.
After Ramadan, there was a significant lull in the export to Western Asia, with less demand for cardamom. But India is reporting to witness a change in the export demand of the cardamom. However, the Spices Board India noted that there had been an export of 6,500 tons of cardamom for the FYI 2021-21. Thus, it is almost 251% up in a year.
But the rise in the production of small cardamom to 100%, which is about 22.520 tons, remains a concern for the cardamom farmers and traders. The market report still shows a significant dip in the price of the small cardamom from July 1 to July 5. Green cardamom 8 mm was sold at USD 26,40/Kg and dipped to USD 23,61 /Kg, 7.5 mm from USD 20,30 to USD 18,90 per Kg, 7.2 mm from USD 19,40 to USD 17,28 per Kg, 6.5 mm – 6.8 mm from USD 16,80 to USD 15,53 per Kg The only exception is 7 mm, which rose from USD 18,25 to USD 18,63 per Kg.