Cardamom price plummets to Rs 2600 after months of steep increase
Kattappana (Idukki): After breaking record for a few months, cardamom price has started nosediving suddenly. The price of the spice was rising from April to August and is now plummeting due to surplus production.
Dry cardamom had fetched upto Rs 7000 per kg in an auction held at Puttady Spices Park in August first week. But now the price dropped to Rs 2600. The market was affected after the merchants stopped collecting cardamom for Diwali mid-September.
The rainfall received at regular intervals in the high range gave surplus cardamom yield which in turn caused the price fall. As favourable weather conditions persists, the yield is likely to multiply causing the price drop further, experts said.
Earlier, the price soared due to shortage of cardamom after flood and drought, north Indian lobby’s largescale stocking of cardamom for festivals and repooling in auction centres.