Crop damage due to weather woes in Kerala, coupled with rapid export growth, may fuel cardamom prices to reach new peak in the near future.

“We expect cardamom prices may rise to over Rs 2,000 per kg in the days to come even before the new season begins in August from the present Rs 1,185 per kg, following crop failure due to weather woes,” Cardammom trader Dinesh Gupta told PTI here.

The country may also see a shortage of supply in local market due to higher exports from India owing to reported crop failure in Guatemala, Mr Gupta said.

MCX quality cardamom is being traded at Rs 1,070-1,200 per kg in the physical market. The price already shot up to Rs 1,350 per kg a fortnight back in the local market.

Traders say that good grade of cardamom prices will rise further as stocks are hard to come by.

“The erratic weather conditions have made the planters anxious for their new season’s crop at Idukki district in Kerala. Idukki is the main centre for cardamom in India. Lack of rainfall during this season has already damaged cardamom crop by more than 40 per cent till date,” Mr Gupta said.

Generally, harvesting of cardamom starts from July every year. Cardamom plant requires summer showers for new offshoots to grow resulting in new pods of cardamom.

“Due to 4 months of no rainfall, the plants have been damaged to such an extent that new offshoots are not growing as desired. Most planters, who have no irrigation facilities, have lost nearly all their plants and offshoots,” the Cardamom Planters Association President, Mr Subramanian, said.

New season harvest estimates by planters body is 9,000 tonnes only.

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