Exporters of small cardamom have earned more despite a lower volume of shipment in 2007-08 over the previous fiscal because of significant rise in the price fetched. But, large cardamom exporters earned less due to lower shipment at a flat price.
An analysis of the information available with the Spice Board and exporters shows that in fiscal 2007-08, only 500 tonnes of small cardamom could be exported against 650 tonnes in the previous fiscal as the asking price rose to an average of Rs 495 a kg, up Rs 151 a kg. Aided by the higher price, the overall earnings increased to Rs 247.5 million from Rs 223.6 million. This means the earnings rose by 11 per cent despite shipments reducing by 23 per cent.
The actual figures were lower than the targets. The Spices Board had fixed a target of Rs 262.5 million to be earned from an export of 750 tonnes. The achievement was 67 per cent of the volume and 94 per cent of the value.
Saudi Arabia, Malaysia, Japan and the UK were the major importers. Global prices rose because of production decline in Guatemala which accounted for 90 per cent of the global trade. Prices of Indian extra bold cardamom rose to $15.45 a kg in 2007-08 from $9.62 in the previous fiscal.
Prices continue to rule high in Indian auction centres. Currently, at Vandanmettu, a kg of different varieties of current season cardamom fetches an average price of Rs 647 against Rs 348 for the previous season.
At Bodinayakanur, prices average Rs 565 (Rs 310), Thekkady, Rs 617 (Rs 368), Saklespur Rs 354 (Rs 141) and Sirsi Rs 403 (Rs 205). The all-India auction price since the start of the cardamom season on August 1, 2007 to early June 2008 averaged Rs 494 a kg against Rs 313 in the previous season.
The export price of large cardamom stood flat at Rs 113 a kg, but volume dropped to 1,325 tonnes from 1,500 tonnes arising from reduced availability. Consequently, the earnings fell to Rs 150 million from Rs 169.5 million.
Source: Sify
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