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Indian cardamom prices seen declining on extended harvest

INDIAN spice traders are expecting declines in prices of the country's cardamom in the coming weeks as farmers release stocks on fears of an extended harvest season. A report in The Financial Express said that following a slow down in February, arrivals had increased at the auction centres as farmers released more cardamom into the market. Good summer rains in the producing regions indicated an extended cardamom harvest, traders said. P C Punnoose of the Cardamom Processing Marketing Company in Kumily, told the newspaper: "Farmers were holding stocks expecting prices to move up. Now they realise that the prices may come down as demand wanes from North India. They are selling more cardamom." As a result, prices had dropped below Rs1,000 ($21.97) per kg and were facing downward pressure, he added.

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