Cardamom prices plunge

KOCHI: With the harvesting season of cardamom is now into four weeks, average price of the spice has plunged to a range of Rs 580 - Rs 610 per kg from Rs 600 - Rs 640 per kg it had commanded at the beginning of the season. On September 9, average price of the spice came down to Rs 589 per kg at the auction conducted by Cardamom Planters' Association, one of the eight licensed auctioneers in the country.
According to M M Lambodharan, general secretary of Spices Planters' Association, a group of small and medium cardamom farmers in Idukki district, the current price levels are unviable. "Farmers are troubled by the fall in prices, damage due to heavy monsoon and increasing cost of production. There was widespread rotting of cardamom plants in panchayats like Bison Valley, Rajakkad, Rajakumari, Udumbanchola and Vandanmedu. On top of this, banks have started recovery of unpaid loans," he said.
In addition, the quantity of cardamom coming to the market has almost doubled with the introduction of high-yielding 'Njallani' variety and new farming techniques, says Sajan Kurian, chairman of Idukki-based auctioneer South Indian Green Cardamom Company Ltd (SIGCC). "Availability of cardamom in the market is between 75,000 kg and 90,000 kg," he said. On September 10, SIGCC auctioned more than 92,000 kg, almost double to what the group had auctioned a few weeks ago.
"The government hasn't conducted a thorough assessment of the domestic and international markets of cardamom. Such studies would help the farmers to vary their production and hence restrict the volume coming to the market. It would also help them to gain better prices," said Kurian, who previously served as the vice-chairman of the Spices Board.