Cardamom prices drop ₹150/kg in 6 days due to conflict
Cardamom prices have dropped fast—down ₹150 per kg in just six days—thanks to the ongoing conflict in West Asia.
Shipments to the UAE and Gulf countries are stuck due to US-Israel-Iran tensions, so prices at auctions like Puttady slid from ₹2,419/kg to ₹2,243/kg.
Daily losses at auctions
Vandanmedu auctions saw a similar dip (₹2,450/kg down to ₹2,300/kg), causing daily losses of about ₹1.8 crore.
Exports are paused before Ramadan because of shipping suspensions caused by US-Israel-Iran tensions, leaving lots of cardamom stranded at ports—but so far, no orders have been canceled.
Domestic demand may help soften the blow
There's a silver lining: Holi celebrations in north India should keep domestic demand steady.
Spices Board chairperson Sangeetha Vishwanathan says they're keeping an eye on things, and the Cardamom Planters Federation points out that while farmers are disappointed by the price drop, homegrown demand is helping soften the blow.