Cardamom price hits record high of Rs 5,000 per kg

The price of cardamom has set an all-time record of Rs 5,000 per kg. The average price is now at Rs 3,233 per kg. The cardamom had breached the Rs 3,000-mark on April 26, while it had crossed Rs 4,000 in the first week of May.

The Rs 5,000 per kg at the auction held at South Indian Green Cardamom Company Ltd, Kochi bettered the previous high of Rs 4,503 per kg recorded at MAS Enterprises, Vandanmedu on June 15, 2019.  

Also read  Skymet predicts ‘below normal’ monsoon

Though the price of cardamom is sky-rocketing, it has not been beneficial to all farmers. The prices have shot up at a time when there is hardly any production, giving little benefits to the farmers.   

The scorching summer heat has dealt a severe blow to the farmers, who were already reeling under the losses caused by the August 2018 floods.

Cardamom crops in large numbers were destroyed in the high-range areas in the intense heat.

As the production was reduced to namesake, the price of cardamom at the e-auction began to set new records frequently. It was on April 2 that the price shot up for the first time. In 2016, the price of cardamom was just Rs 500 per kg.  

Although cardamom growers are happy about the upward spiral of the price they are not getting the full benefit due to lack of stocks with them. The small growers are the disappointed lot as they don’t have the holding capacity.

Also read  Low demand,Declining Prices and Strong Rupee Hits Indian Coffee Export