BackCardamom prices, production set to rise
Cardamom prices, production set to rise
Premium
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.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!
