Cardamom price hits record high of Rs 5,000 per kg

Cardamom price hits record high of Rs 5,000 per kg

Thodupuzha: The price of cardamom has set an all-time record of Rs 5,000 per kg. The average price is now at Rs 3,233 per kg. The cardamom had breached the Rs 3,000-mark on April 26, while it had crossed Rs 4,000 in the first week of May.

Though the price of cardamom is sky-rocketing, it has not been beneficial to all farmers. The prices have shot up at a time when there is hardly any production, giving little benefits to the farmers.

The scorching summer heat has dealt a severe blow to the farmers, who were already reeling under the losses caused by the August 2018 floods. Cardamom crops in large numbers were destroyed in the high-range areas in the intense heat. As the production was reduced to namesake, the price of cardamom at the e-auction began to set new records frequently. It was on April 2 that the price shot up for the first time. In 2016, the price of cardamom was just Rs 500 per kg.

Black pepper losing out

Even when the cardamom price is shooting up, the price of another high-range crop, black pepper, is going down. The price of black pepper that was at Rs 360 per kg in the first week of June has further dropped to Rs 340 per kg. Though the farmers do not have much stock with them due to less production, the fall in price is a cause for concern.

The black pepper price had touched Rs 700 per kg during the peak season in 2017. However, now even with low production, the price is not increasing.

Black pepper arrived in sufficient quantities in the market during the month of June in the earlier years. However, this time there is a significant reduction. Some of the middlemen are hoarding black peppers, sources hinted.

However, the arrival of the monsoon has given renewed hopes to the black pepper market. But in some areas the rainfall has not been sufficient.