The price of cardamom has risen to Rs 110,000 per mann, the highest in 12 years

During the season, cardamom prices have topped Rs 110,000 per mann (40 kg), the highest level in the previous 12 years.

The Cardamom Development Center claims that a decline in production is the reason behind the rise in cardamom prices. According to Rajan Pariyar, the center’s head, cardamom prices are at their highest point in the previous 12 years.

According to Pariyar, farmers were receiving up to Rs 114,000 per quintal only a week ago. He stated that even if the price has somewhat decreased this week, it is still the highest level in the last 12 years. He claims that this year’s cardamom production has decreased by 25 to 30 percent.

During the previous season, cardamom prices ranged from Rs 45,000 per quintal to Rs 90,000 during the off-season.

The price increase has resulted in better export earnings notwithstanding the decline in production. In a same vein, farmers have begun to hold after receiving favorable prices.

The current fiscal year 2024/2025 has seen the export of 2,074,865 kg of cardamom valued at around Rs 3.45 billion in the first five months. Cardamom exports totaling Rs 3 billion were made at the same time last year.

According to Nirmal Bhattrai, President of the Federation of Large Cardamom Entrepreneurs of Nepal, cardamom is being sold for more than Rs 110,000 a mann throughout the season because of a decline in output.

According to him, this fiscal year’s cardamom production is 1,000 metric tons lower than the previous one. This decrease in production is the cause of the price increase. Depending on the quality of the cardamom, farmers are getting more than Rs 110,000 per mann.

Approximately 4,000 metric tons of cardamom are expected to be produced this year, compared to 5,000 metric tons last year. Forty percent of the cardamom produced has already been shipped, Bhattarai claims. Countries like Qatar, the United Arab Emirates, and India have benefited from the exports.

Approximately 20% of the cardamom is owned by the farmers. In anticipation of a further increase in price following the off-season, they have begun drying and storing it at home. Domestically, only 4% of the cardamom is used.

Reduced production in Bhutan and India is another factor contributing to this year’s price hike. According to Bhattarai, lower production in India and Bhutan has made Nepali farmers rich. However, Nepal has been producing less cardamom each year. According to Pariyar, the center’s head, the production is being impacted by pests, infections, and a lack of rain during the flowering season.

Throughout the nation, cardamom is grown in more than 50 districts. Twenty of these districts are dedicated to the commercial cultivation of cardamom.