Cardamom Harvest Delay Shakes Spice Market
The spice market is currently facing notable disruptions due to a delayed cardamom harvest, primarily affecting India’s production. The delay is attributed to erratic weather patterns, including a late monsoon and inconsistent rainfall, which have pushed back the harvest schedule and impacted crop yields.
Key Impacts and Developments
- Supply Shortages: The delay has led to notable supply shortages, causing prices to rise. Currently, the price of cardamom in India ranges from INR 379.41 to INR 678.94 per kilogram (approximately USD 4.58 to USD 8.19 per kilogram). This shortage is further intensified by strong domestic and international demand.
- Quality Issues: The inconsistent weather has not only delayed the harvest but also impacted the quality of the cardamom. Poor quality, coupled with low supply, is likely to drive prices even higher and create instability in the market.
- Broader Market Effects: The supply chain disruptions are also affecting related agricultural sectors and export markets. Regions such as Gujarat are reporting these impacts, influencing both local markets and international trade.
- Price Predictions: Analysts expect prices to continue rising until the supply stabilizes. The ongoing challenges could result in a prolonged period of high prices if the harvest delays persist.
The delayed cardamom harvest is causing significant turbulence in the spice market, affecting prices and supply chains. Continuous monitoring and strategic adjustments are essential for stakeholders to manage these challenges and reduce the broader impacts on the spice trade.
References
- Commodity Board Europe GmbH. (2024). Spice Market Movements – A Closer Look at 2023 and Projections for 2024. Retrieved from commodity-board.com
- Mundus Agri. (2024). Spice market update: delayed cardamom harvest. Retrieved from mundus-agri.eu
- Selina Wamucii. (2024). India Cardamom Prices. Retrieved from selinawamucii.com