Cardamom prices hit an all-time record of Rs 6,000 a kg at the Spices Board of India’s auction centre at Puttady.
“There is no carryover stock either with farmers or traders as production in the previous year was also lower. The current year’s crop too would be delayed by a month or two,” said in a report.
On Saturday, the average price of premium-quality cardamom hit an all-time high of 6,000 rupees a kg at the Spices Board auction in Bodinayakanur, Tamil Nadu.
The prices are unlikely to drop even as new produce is expected to hit the market by July.
Current auctions were held by traders who have kept large stocks. The surge in prices was beneficial to these traders.
Small-scale cardamom farmers are yet to reap the benefits as harvesting of presently cultivated cardamom could be done only by August.