Cardamom prices surge amid production concerns
Cardamom prices have surged past ₹3,000 per kg due to production concerns linked to El Niño and increased export demand. While traders report a positive market trend, farmers fear significant losses due to poor crop development from rain deficits.
Why it matters
Fluctuations in spice prices impact both the agricultural economy and export revenues in the region.
As El Niño influences the monsoon rains in cardamom-producing regions, the prices of cardamom experienced a continued increase in July. This rise can be attributed to a reported decline in production this year, coupled with a growing demand resulting from the easing of tensions in West Asia. Consequently, the average price has surpassed ₹3,000 per kg.
The article balances perspectives from market traders and farmer representatives regarding the price surge.
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