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Sharp Decline in Small Cardamom Prices Due to Lower Quality Arrivals

29 May 2024 6:36 pm
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Mumbai, May 29 (Commodities Control): Cardamom prices experienced a sharp decline in major markets today, following a period of rising prices. The decrease is attributed to the arrival of lower-quality cardamom, which has impacted market rates despite strong demand.

The average price for cardamom dropped to Rs 2,139-2,248 per kilogram, significantly down from the previous session's average of Rs 2,357 per kilogram. The highest price recorded today was Rs 2,859 per kilogram, a reduction from Rs 2,970 per kilogram in the prior session.

Arrivals of cardamom remained below 1.0 lakh kilograms for the fifth consecutive session, with stockists holding back supplies as prices had been rising daily. Today's arrivals totaled 77,132 kilograms, down slightly from 79,298 kilograms in the previous session.

Despite the lower arrivals, offtake increased marginally to 76,325 kilograms from 76,790 kilograms, driven by strong demand. The offtake rate rose to 99%, up from 96.8% in the previous session, underscoring the robust demand for cardamom in the market.

Prices for specific grades of cardamom remained stable. The rates for the 7 mm grades ranged between Rs 1,760 and Rs 1,820 per kilogram. For grades between 7-8 mm, prices varied from Rs 1,960 to Rs 2,050 per kilogram, while the highest quality grades of 8 mm and above were priced between Rs 2,320 and Rs 2,400 per kilogram.

The cardamom market is currently navigating through fluctuations due to varying quality of arrivals and persistent strong demand.

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