Glimpse Into the Origins and Evolution of Cardamom
The origins of cardamom can be traced back to the lush Western Ghats in Southern India, where it thrived in the wild. This area, so abundant in cardamom plants, came to be known as the iconic “Cardamom Hills.” Its historical significance grew during the 19th century when British colonists established cardamom plantations, cultivating green and black cardamom varieties that continue to dominate global markets to this day.
Interestingly, Guatemala has emerged as the world’s largest commercial producer of cardamom. In fact, in parts of Guatemala, cardamom is deemed more valuable than coffee, underscoring its importance as a high-value crop in the region.
Current Landscape of the Cardamom Industry
Cardamom has secured its position as the third most expensive spice in the world, following saffron and vanilla. The leading producers include Guatemala, India, Sri Lanka, Tanzania, El Salvador, Vietnam, Laos, Cambodia, and Papua New Guinea.
At present, the Indian cardamom market is poised for a surge in demand due to a shortfall in Guatemala’s harvest. This disruption is likely to boost India’s export potential, especially in Gulf markets where cardamom plays a critical role in Ramadan preparations.
Additionally, cardamom continues to gain prominence in global markets, driven by its rising use in beverages, desserts, traditional dishes, and even natural health remedies.
EXIM Industry Scenario
The Asia-Pacific region is expected to lead the growth in cardamom production and trade, recording the highest Compound Annual Growth Rate (CAGR) in the coming years. Industry analysts estimate the global cardamom market to reach USD 610.48 million by 2025 and soar to USD 820.82 million by 2030, expanding at a CAGR of 6.1%.
With such promising growth projections, the cardamom trade is becoming increasingly lucrative, making it a prime opportunity for exporters, suppliers, and producers to capitalize on this flourishing industry.
Current Pricing Scenario in India
The cardamom market is a consistently growing industry with rising prices driven by strong demand. Its pricing fluctuates daily, primarily influenced by auctions held in Tamil Nadu and Kerala. According to the latest market data, the average price of cardamom stands at ₹3,27,222.22 per quintal, with the lowest recorded price at ₹2,95,000 per quintal and the highest reaching ₹3,65,000 per quintal.
A Growing Opportunity for Sellers
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