Indian cardamom arrivals remain favourable
Indian cardamom arrivals have continued to be good in recent weeks according to a recent report.
Cardamom arrivals have continued to average about 850,000-900,000 kilos every week explained Hemen Ruparel of Samex Agency, which markets under the brand Emperor Akbar Green Cardamoms, in a October 12 report.
“We have seen small planters getting yields of about 900-1,100 kg per acre while one planter, who is expecting to get an award, has reported a yield of a whopping 2,500 kg per acre,” he added.
Ruparel noted that the rains are good and the weather continues to be favourable for cardamoms. “We visited some plantations and saw some planters picking their third round of pods while some were still in their second round. The bumper harvest of cardamoms this year is expected to yield about 26,000 tonnes, boosting Indian exports and also keeping prices in check,” he said.
The proportion of bold grades is reducing to about 25-30% and is lower than that of the same time last year, Ruparel stated. “This, combined with the festival season in the domestic market is helping the prices remain stable and firm. There has been a labour strike in the plantations since the last few days affecting the plantations of tea and rubber besides cardamoms. This may not have an immediate effect in the very short term on the prices but could adversely affect if the strike prolongs unreasonably,” he suggested.
Internationally, Guatemalan cardamom stock pileups continued in the major consumption centres, depressing the sentiments, Ruparel observed.
“Traders tried to sell their Guatemalan cardamom stocks amidst financial and political turmoil. The new crop from Guatemala is already under way even as the old crop continues to flood the international markets,” he added.
With India having exported about 3,000 tons of cardamoms and about 12,000-13,000 tonnes of Indian cardamom yet to arrive on the market, the prospects of sizeable exports with subdued prices are good, Ruparel suggested.
The company advises buyers to cover their maximum requirements at this time.
