Recent Price Surge and Market Trends

The recent surge in big cardamom prices in India, fueled by high import costs from Nepal and a shortage in Indian local markets, has caught everyone's attention. Experts believe that this trend of rising prices is likely to continue in the coming days. It might affect both buyers and sellers alike.

Moreover, the fluctuations in big cardamom prices are nothing new. Traders have witnessed prices going up and down over time, especially in recent months with increased demand domestically. This has led to slight increases in prices per kilogram, affecting the overall market dynamics.

Factors Influencing Price Surge and Crop Losses

The primary reason for the price surge is the normalization of domestic availability as imports dwindle. Additionally, adverse weather conditions during the growing season have resulted in a significant reduction. It has been observed in both the first and second crop yields, leading to concerns about future supply.

Moreover, unfavorable weather, including higher-than-normal temperatures and insect infestations, has led to anticipated losses of 60-70 percent in the current big cardamom crop. These challenges are expected to persist. Leading to a weaker availability of big cardamom in the domestic market compared to previous years.

Export Trends

The export data for the financial year 2023-24 highlights a noticeable decline in cardamom export, totaling 945.04 tonnes compared to the previous year's figure of 1541.88 tonnes. This decline suggests a potential shift in global demand or challenges within the export market. Despite this decline and ongoing domestic challenges, such as shortages and price fluctuations, experts anticipate that the big cardamom spot market will maintain its strength in the near future. This resilience may be attributed to various factors, including sustained demand in specific markets, strategic market positioning, and ongoing efforts to address domestic challenges.

In conclusion, the recent surge in big cardamom prices reflects a complex interplay of factors, including high import costs from Nepal and domestic shortages. This trend is expected to persist, impacting both buyers and sellers. Fluctuations in prices are not new, with recent months witnessing increased domestic demand leading to slight price hikes. Adverse weather conditions have further exacerbated the situation, resulting in anticipated crop losses of 60-70 percent. Despite challenges, the big cardamom spot market is projected to maintain its resilience. However, export data for 2023-24 indicates a decline, highlighting the need for strategic market management in the future.