Cardamom market prices kept steady on September 27 after they increased last week. All the varieties of green cardamom gave relief to the traders since it had a slow increase from the middle of this month after the prices fell on September 7.
On Monday, the prices were recorded as follows after the increase was noted on September 22.
Green Cardamom 8 mm closed at $21,74 per kg FOB, Green Cardamom 7.5 mm recorded $17,85 per kg FOB, and Green Cardamom 7.2mm was sold for $16,85 per kg FOB. Thus, the trend was positive for Green Cardamom 7 mm and Green Cardamom 6.5 mm-6.8 mm, traded for $16,15 per kg FOB and $15,47 per kg FOB, respectively.
However, on Tuesday, the prices for the crop slipped significantly, Green Cardamom 8 mm fell to $20,68 per kg FOB, while Green Cardamom 7.5 mm decreased to $17,59 per kg FOB, and Green Cardamom 7.2mm was sold for $16,64 per kg FOB. Similar was the case for Green Cardamom 7 mm and Green Cardamom 6.5 mm-6.8 mm, which closed the market at $15,97 per kg FOB and $15,29 per kg FOB, respectively.
According to the market experts, Cardamom production is estimated to be between 22,000 and 23,000 MT for 2020-21 compared to last year’s 19,000 to 20,000 MT. But this increase in production may cap on the prices in the following days. However, the market is keeping steady to weak currently. For the last two years, the crop farmers got reasonable prices and are now eager to take care of the plants instead of selling the pods at a lower price. In addition, the favourable weather condition is also a factor in having good production of cardamom this year.
In Kerala, the new crop supply has started as the picking activity for the first round continues. It has been reported that the first round of picking activity will continue till the first week of October.
For more information, facts and figures, become a member. Click here.
The following reports may be of interest to you: