The prices of nutmeg and mace almost doubled in the last 10-12 weeks as the market is facing a serious supply crunch due to low production this season. The price of shelled nutmeg increased to Rs 180 a kg from Rs 100 a kg in mid-June. The price of unshelled nutmeg edged up to Rs 300 a kg from Rs 170 a kg.
The price of the best quality red mace increased to Rs 450 a kg and that of yellow mace rose to Rs 525 a kg. These prices were in the range of Rs 350-480 a kg mid-June.
According to leading traders, the prices are likely to increase further on account of a sharp decline in arrival at major markets like Kalady near Kochi. Fresh arrivals in the local market are very low at present and the market is poised for further appreciation in prices. Prices of both, nutmeg and mace, may further rise by Rs 50 a kg.
