To overcome the corona pandemic, lockdown restrictions continue in Kerala and Karnataka states. Due to this measure, no auctions organized after 7th May in states. However, after lockdown, as soon as the second phase of unlocking starts from 7th June, the selling of cardamom increased because of the financial crisis and thus, the market went down day by day. Because of unlocking, now recession in the cardamom market can be stopped.
Usually, in the summer season, buying demand for cardamom remained higher but, due to lockdown restrictions in Kerala and Karnataka, currently demand weak. However, traders saying that as the lockdown restriction release on 16th June, demand for cardamom will rise, and the market will boom again.
Another side, cardamom export increased in the last year, 2020-21. In April-December 2020, 4300 tons (In value terms – Rs. 724.75 crore) of cardamom exported.
In the last auction held on 7th May’21, cardamom arrivals were 34,419 kg, and the maximum value was Rs. 1602 per kg.