Cardamom Prices Soar 20% to ₹1,900 per kg Amidst Low Production

The start of the festive season has brought a sense of jubilation to cardamom cultivators in the Idukki district of Kerala, as prices of the beloved “queen of spices” have witnessed a remarkable 20% surge in October, now fetching ₹1,900 per kilogram at the farm gate level. Just a year ago, cardamom was trading at approximately ₹1,100 per kg. This year’s price escalation is primarily attributed to a significant 30% reduction in cardamom production, totalling 23,000 tonnes, owing to insufficient rainfall during the crucial cropping months of June and August.

Prabhakar SB, a seasoned cardamom grower in Idukki with an 80-year family legacy in the business, voiced his concerns about the illicit inflow of cardamom from Guatemala. He stated, “The drop in production has been compensated by the high prices. But what is worrying us is the illegal influx of cardamom from Guatemala.”

Idukki district alone contributes to a staggering 95% of the cardamom produced in the country. However, the region has witnessed a stark 60% deficit in rainfall this year. The timing of cardamom harvesting typically commences towards the end of July, and despite some late September showers, growers believe the damage caused by the prolonged dry spell cannot be rectified.

PC Punnoose, the Chief Executive Officer of Kerala Cardamom Processing & Marketing Company, shed light on the economic dynamics, explaining, “Last year, cardamom farmers received a mere ₹1,000 per kg, even though the production cost was ₹1,200 per kg. In September, cardamom prices surged to ₹1,500–1,600 per kg. With the onset of October, prices have further skyrocketed to ₹1,900 per kg, driven by the escalating demand during the festive season.”