Exports of Cardamom are likely to move up this fiscal on account of softening domestic prices and reports of crop failure in other origins. Domestic prices have come down during the recent auctions due to increased arrivals and reduced demand from north Indian market. According to the figures of the Spices Board, Indian exports fell to 500 tones in 2007-08 as against 650 tones in 2006-07. India has lost traditional markets such as Kuwait, Japan and Oman to Guatemala while retaining Saudi Arabia.
During the current fiscal (April-September), favorable macro situation has facilitated India to increase cardamom exports by 10% in volume and 74% in value, as compared with performance of the same period of last fiscal. The target fixed by the Spices Board for the current fiscal is 550 tones valued around Rs 25 crore. However, the average auction prices have shown a declining trend with some late harvest in the crop bringing in increased volumes to the auctions.
During the current fiscal (April-September), favorable macro situation has facilitated India to increase cardamom exports by 10% in volume and 74% in value, as compared with performance of the same period of last fiscal. The target fixed by the Spices Board for the current fiscal is 550 tones valued around Rs 25 crore. However, the average auction prices have shown a declining trend with some late harvest in the crop bringing in increased volumes to the auctions.
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