Indian cardamom prices fall in technical correction

Indian cardamom prices, which had previously surged by Rs 120 ($2.57) a kg in a fortnight, have dropped by Rs 20 at the auction held in the Keralan town of Kumily, the country’s main cardamom trading centre, on Sunday.

Ten tonnes were bought by exporters, while the rest was bought by North Indian dealers.

The average price at the Sunday auction was Rs 380 a kg, while cardamom 8mm bold fetched a maximum price of Rs 537 a kg.

One Indian trader said that the recent price dip was is only a technical correction and the market sentiments are that the prices might bounce back.