Current prices of cardamom are low

Farmers in the Northern region of Guatemala - which includes five departments, fear losing most of their crops. The parchment (final product) for export cost up to USD 1,100 last year and the current price is around USD 250. In the mentioned region there are diverse crops, but the cardamom predominates and the situation puts risk the economy of communities and thousands of families. Exporters comment that the price has been falling for a year, influenced by production volumes worldwide. Guatemala is the main producer and it is forecast that there will be a high harvest volume, which automatically deteriorates international prices.

The second largest producer is India and it also projected an increase in its production, so the two countries, with those estimates, caused an oversupply. September 2021 ended with 32,000 MT exported, while 35,000 MT were produced. The 3,000 MT which could not be exported increases the supply surplus. India produces an average of 22,000 MT, but for this season 28,000 MT is expected. This directly impacts the offer and prices across the qualities and sizes available.