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Towards the end of last month, the downward trend for cardamom started. After holding it stable for a couple of days, the trend continued on October 6. The prices for the spice were recorded as follows:

Green Cardamom 8 mm from $20,52 per kg FOB to $20,18 per kg FOB.

Green Cardamom 7.5 mm decreased to $17,36 per kg FOB from $17,49 per kg FOB, and Green Cardamom 7.2 mm closed the market on October 5 at $16,34 per kg FOB after it fell from $16,54 per kg FOB. The situation was the same for Green Cardamom 7 mm and Green Cardamom 6.5 mm-6.8 mm. Both the varieties price decreased, 7mm recorded at $15,67 per kg FOB from $15,87 per kg FOB, whereas 6.5 mm-6.8 mm was $15,33 per kg FOB from $15,10 per kg FOB.

It is believed that the higher production of the crop is the reason for capping the price. Compared to last year, when the show was between 19,000 and 20,000 MT, the production was around 22,000 to 23,000 MT for 2020-21. It is expected to be far better for the year 2021 – 2022 at 30,000 MT. The trend of the price decreasing due to higher production of cardamom is already being witnessed.

The market has already started flooding with the new supply of cardamom and will continue to be so as the picking of the new crop continues in Kerala’s growing regions.

Despite the lowering in the spice prices, the farmers and traders of the crop are not interested in selling them until they receive a better price. Cardamom farmers have received reasonable prices; they are willing to take care of the crop in this favourable weather condition than releasing them at a lower price.

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