Cardamom production is expected to be at an all-time high this year, as farmers chose to plant more of the spice due to good prices received last year.
Production is expected to rise 30 per cent to 21,000 tonnes, compared to 16,000 tonnes last year. The earlier high was in 2004-05, when India had harvested 17,500 tonnes. The normal consumption in a year is 12,000-14,000 tonnes; and thus, carryover stock is also expected to be more.
Last year, farmers realised higher prices for the spice, up to Rs 2,000 a kg, which made planters increase the acreage. However, due to this season’s bumper crop, prices have plummeted to a one-and-half year low of Rs 600 a kg.
The current prices may be the bottom and stockists and planters have began to store 7 mm and 8 mm quality of cardamom, expecting higher returns in the months to come, as the export scene is brightening up.
During April-November, 3,100 tonnes of small cardamom were exported compared to 570 tonnes in the same period in 2010, a rise of 207 per cent. During the same period, 475 tonnes of large cardamom were also exported, compared to 380 tonnes in the corresponding period in 2010, a rise of 48 per cent.
“I expect at least 5,000 tonnes of small cardamom to be exported from India by March, as Indian cardamom is better in quality than Guatemala’s,” said Mulraj Ruparel, a Mumbai-based exporter. The major importers are West Asia, Japan and Europe. Mostly, there are only four pickings of the crop in a season, but this year due to a bumper crop there will be a fifth picking as well.