The Hindu Business Line : Cardamom export may touch 1,000 t this fiscal

Indications are that demand for Indian cardamom from overseas markets would go up as arrivals from the country's main competitor, Guatemala, is likely to commence by mid-February due to reported delay in harvesting and some problems existing there in processing, according to Mr S. Kannan, Director, Marketing, Spices Board.

Exports up to November 30 stood at 325 tonnes and it is estimated to be 150 tonnes in December.

He said the availability of airfreight assistance at Rs 45 a kg had made it possible for the exporters to sell cardamom at competitive prices in the Gulf markets. Besides, being competitive in terms of price, Indian cardamom is superior to that of the other origin in its aroma and quality. This phenomenon had placed the exporters at an advantageous position and hence, the demand was expected to go up in the coming months, he said.

A trade delegation is to visit Saudi Arabia in early January aimed at promoting the produce and boosting our exports, he said. Production in Guatemala, which was earlier projected at 23,000 - 25,000 tonnes, was reported to be around 20,000 tonnes this season, he said.

Unlike in the past, prices this year have been ruling at lower levels from the beginning of the season. Last year, the average price dropped to below Rs 400 a kg only in December, trading sources said. Throughout the current season, it has been hovering around Rs 300, they said.

Contrary to the earlier expectations that the production would be marginally higher than that of last season, current market sentiment was that it might not be so, they said. There is a feeling after the fourth round of picking now that the harvesting might come to a close early this season, market sources in Kumily claimed.

According to them, this has led to some increased buying activity by north Indian buyers, which had in turn helped the prices to remain stable at the current levels. The airfreight assistance to exporters had made some impact on the export buying but it has not been so significant so far, they claimed.

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Cardamom export may touch 1,000 t this fiscal