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Cardamom prices continue to gain on strong demand amid increased arrivals at auctions held in Kerala and Tamil Nadu. Continued dry spell in the growing regions has created a bullish sentiment in the market. An estimated 20 per cent of the plants have dried up in “new generation” small estates where adequate shades are absent, PC Punnoose, General Manager, CPMC, told BusinessLine.
Consequently, the next crop is unlikely to hit the market before late July/August, creating gap of 3-4 months. At the same time, it is expected to be around 70 per cent of the normal crop.
This phenomenon is said to have prompted the buyers to cover now and that has been pushing the prices despite an upsurge in the arrivals.
Exports up
Meanwhile, the decline in unit value has raised the country’s small cardamom exports during April-December 2015 by 83 per cent in quantity and 63 per cent in value. Total shipments during the period stood at 3,825 tonnes valued at ₹300.85 crore against 2,095 tonnes valued at ₹184.06 crore in the corresponding period in 2014. The unit value dropped to ₹786.54 a kg from ₹878.56, according to Spices Board sources.
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