Large Cardamom Market Softens as Fresh Crop Boosts Supply
Large cardamom is coming under pressure as fresh crop arrivals increase across the producing regions, shifting the market away from the supply-led firmness seen in spices such as ajwain, turmeric and cumin. Rising availability is giving buyers greater bargaining power, particularly in standard and medium-quality grades.
Indian physical markets have already started reflecting the softer trend. FCA New Delhi prices for 7–7.2 mm green cardamom declined from about EUR 15.00/kg in the second half of August to nearly EUR 14.10/kg. The 6.5–6.8 mm grade also edged lower to around EUR 11.05/kg.
Premium 8 mm cardamom has shown greater resilience, although prices eased marginally to around EUR 20.97/kg by August 28. Export-quality 7.5 mm and 8 mm varieties have remained largely stable to slightly weaker, at approximately EUR 25.9/kg and EUR 27.8/kg respectively. The pressure is therefore more visible in lower and mid-range grades than in premium lots.
The main factor weighing on the market is the stronger flow of new crop from Himalayan producing areas. Supplies from key origins are reported to be better than last season, creating a comfortable availability outlook. With fresh material entering the market, buyers have less incentive to build large stocks and can afford to purchase closer to their immediate requirements.
Demand remains steady, supported by festival and winter consumption in South Asia and the Middle East, but it is not strong enough to absorb the expanding supply quickly. Importers are consequently adopting a cautious approach and waiting for potentially lower offers as farmers and local traders increase selling.
Weather conditions are also supporting the bearish supply outlook. Monsoon conditions in India’s cardamom-growing areas and rainfall across Himalayan producing regions have generally been favourable for crop development. Unless excessive rain later affects curing or quality, supplies are expected to remain adequate.
With production growth emerging as the key market factor, large cardamom faces limited upside in the near term, particularly for standard-quality grades.