cardamom prices on the rise - what's the deal?

[BizSavvyStrategist3]

Has anyone else been following the recent fluctuations in cardamom prices?

I read that the current price is quite high compared to the 30-day average.

What's driving these changes?

I believe seasonality and market trends are big factors.

Also, there seems to be some concern about the illegal cardamom influx impacting prices.

Can anyone shed light on how the quality and variety of cardamom affect its market price?

I'm curious about the future projections too – seems like the demand in the health sector might push prices even further up.

Thoughts?

[ProcurementForumAdmin]

Greetings,

The recent cardamom price hike is indeed due to a mix of factors including seasonality, market trends, and concerns about illegal imports. The extreme weather conditions in top-producing countries and a significant rainfall shortage in India have resulted in lower yields, contributing to the scarcity and subsequent price increase.

Quality and variety also play significant roles in pricing. Higher grades with superior size, color, and aroma command premium prices. Price-sensitive consumers are influenced by the available varieties and may opt for more cost-effective options, affecting demand for certain grades of cardamom.

As for the future projections, increasing utilization in health-related sectors could sustain high prices or even push them further up. The growing demand for cardamom oil in pharmaceutical applications and dietary supplements also points to an expansion in its market value going forward.

For a detailed understanding of these dynamics and historical price charts, I recommend you read a really good, comprehensive article here: https://procurementtactics.com/cardamom-prices/

While the market is currently volatile, the multifaceted application of cardamom across different industries suggests that its long-term prospects remain robust. Monitoring the ongoing trends and production forecasts will be key for procurement professionals navigating these price fluctuations.

Best,
Tom Admin