Weekly Market Reports of International Spice Commodities – Cardamom
Cardamom: Higher arrivals and weak demand is likely to pull the prices down. Higher carryover stocks and good production prospects are pressurizing the trend. The outlook for the spice remains bearish as the supply is higher. The daily arrivals in major auction centre in Idukki district increased to 103 tonnes from 44 tonnes arrived on previous day. The price on average stood at around Rs.523 ($10.01, €7.57, £4.48) per kg. According to latest data by Spices Board, the supply increased to 52 lakh (5.2 million) kg in India by the end of October 2011 from 28 lakh (2.8 million) kg reported same period in 2010-2011. Traders are expecting the total production of around 15000 tonnes in the current year. However, there are expectations that this estimate would be lowered further on account of the disease attacks and erratic rainfall in the major growing areas particularly Kerala.