Cardamom prices, production set to rise

Cardamom prices, production set to rise
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First Published: Thu, Jun 05 2008. 11 13 PM IST
Updated: Thu, Jun 05 2008. 11 13 PM IST
Mumbai: Indian cardamom production is likely to rise 20% in 2008-09 on good weather and higher area under cultivation due to better prices, analysts and traders said.
“The next season crop is likely to be 15-20% higher,” said an analyst with Motilal Oswal Commodities Broker Pvt. Ltd. Total output in 2008-09 is likely to be 8,500-9,000 tonnes, said R. Jayachandran, secretary, Cardamom Planters Association.
Growers are now getting better prices due to rising export demand and lower output in 2007-08, he said. Prices have risen about 17% to Rs680 per kg in the last month to 4 June.
The area under cultivation is also likely to increase by 10% as growers are getting better prices, he said.
India is the world’s second largest cardamom producer after Guatemala, with Kerala accounting for 70% of the country’s production.
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First Published: Thu, Jun 05 2008. 11 13 PM IST