Cardamom prices crosses Rs 1000
The small cardamom prices crossed Rs 1000 a kg at the auction held on Tuesday.
Thin arrivals and coupled with uncertainty over the arrival of the new crop have pushed the prices up at auctions held in Kerala and Tamil Nadu.
Harvest is expected to begin by this month-end and growers feel that if rains don’t intensify, production will be less than anticipated. Last year, cardamom output was down by 50 per cent at 15,000 tonnes.
Idukki district is the main cardamom producing region of the country.
Earlier in the year, cardamom growing tracts in the Idukki district of Kerala received good summer rains coupled with favourable weather conditions which increase the chances of bumper cardamom for 2017/18 season and thus the prices started to drop.
Cardamom futures on MCX plunge about 33% in five months to touch lowest levels for the year at Rs. 927 per kg in May. Cardamom futures touched its five-year high of Rs 1,569 per kg in Jan 2017 due to lower production last year.
Read more at:
economictimes.indiatimes
