Cardamom Prices – Historical Graph

Real-time chart of historical daily cardamom prices. The prices are shown in hundredweight.
The current price is and is last updated on .
  • The average price in the past 3 days is
  • The average price in the past 7 days is
  • The average price in the past 30 days is
  • The average price in the past 365 days is

Cardamom Prices Explained

Cardamom prices continue to spike as falling yields from top-producing countries such as Nepal and Pakistan haven’t recovered from extreme weather conditions that affected Cardamom’s growth and market value.  Additionally,  India suffered a 60% rainfall shortage which dried up the ‘Queen of the Spices’ farmlands. Thus, causing a dwindling cardamom production to 30%.

This high marketability brought cheer to growers, however, the illegal influx of cardamom from Guatemala worried some market analysts as it might offset the growing demand, stabilizing cardamom prices.

Why are cardamom prices fluctuating?

1. Market Trends and Speculation

Speculation and market trends affect cardamom prices as consumption patterns, production projections, and world events openly affect widely traded commodities.

For example, the average price of big cardamoms in Gangtok, India, consistently dropped from previous years to about 589 Indian Rupees per kilogram in 2022. However, in 2023, the price of cardamom increased to 1,185 rupees per kilogram due to rising upcountry demand and the drop in auction arrivals.

2. Seasonality

Generally, cardamom is a seasonal crop that is harvested from October to February. Thus, its prices rise during the peak season because of increased demand and limited supply. Additionally, holidays and celebrations like Ramadan, Eid al-Fitr, Diwali, and Christmas impact its prices as it is a popular ingredient and gift that represents hospitality and goodwill.

3. Quality and Variety

Normally, cardamom quality comes in size, color, aroma, and freshness. Thus, these characteristics are important in determining its pricing. A higher price means higher-quality cardamom.

For instance, the Guatemalan variety is more affordable and readily available. However, it has a similar flavor and perfume to the Malabar variety. Therefore, depending on their preferences, customers choose the more affordable option.

Which variables impact the price of cardamom?

  • Market Trends and Speculation
  • Seasonality
  • Quality and Variety
  • Supply and Demand
  • Trade Policies and Tariffs
  • Disease and Pest Outbreaks

Where does cardamom come from?

Cardamom is a spice derived from the seeds of plants in the ginger family. Also, it is known for its strong and clove-like scent.

Known as the “Queen of Spices,” it has a strong flavor that some describe as a combination of ginger and cinnamon while others note that it has hints of mint and lemon.

When it comes to spices, green cardamom ranks by far the most expensive when it comes to weight. Here are some types of cardamoms:

1. Malabar Cardamom – This type of green cardamom is the most widely used and distributed variation. Additionally, it’s famous for its sweet scent and is grown in the Western Ghats region of India as well as Sri Lanka.

2. Mysore Cardamom – This variety of green cardamom is cultivated in the Indian state of Mysore. It has slightly larger pods and a softer flavor.

3. Vazhuka Cardamom – It’s well-known for its large pods and unique, strong flavor. Moreover, it is native to some parts of Kerala, India.

4. Black Cardamom – Also known as Brown cardamom or Nepal cardamom, it is grown throughout parts of India, Nepal, and Bhutan in the eastern Himalayas. Due to its earthy, smokey flavor, it is often used in savory recipes, particularly in Chinese and Indian cooking.

5. Bengal Cardamom – This black cardamom variety is identified by its strong and smokey flavor. Typically found in West Bengal, in eastern India, it is used in spice mixtures and certain meat-based recipes.

6. Siam Cardamom – It is native to Southeast Asia and is used in both culinary and medicinal applications. Additionally, it is found in places like Thailand and Cambodia.

What are the uses of cardamom?

It is rich in minerals which are needed for various body processes. Additionally, the consumption of cardamom provides copper which aids in the synthesis of red blood cells in the human body.

Moreover, this adaptable spice benefits not only the culinary arts but also a wide range of industrial applications:

1. Ayurvedic Medicine – Cardamom is widely used in Ayurvedic medicine due to its medicinal qualities. Also, it is a useful component in several pharmaceutical formulations due to the possible health benefits of its essential oils.

2. Flavoring Agent – The food and beverage sector relies primarily on this commodity as it’s a natural taste enhancer. Furthermore, it gives exquisite taste to various products such as baked goods, candy, drinks, and dairy products.

3. Aromatherapy – Due to its fragrant properties, it is a preferred choice in the perfume industry. Its pleasant and relaxing aroma is frequently added to perfumes, scented candles, and other scented goods.

4. Flavoring Tobacco Products – The tobacco industry uses cardamom as a flavoring ingredient as its aromatic qualities improve the overall smoking experience.

5. Liquors – It is used in the production of some alcoholic drinks, especially liqueurs and spirits. Its flavor gives a warm and spicy tinge, balancing the tastes of certain drinks.

6. Flavoring Tea and Coffee – It is frequently used in the beverage sector to add flavor to teas and coffees.

7. Beauty Products – Its extract or essential oil is included in cosmetic products such as skincare items, perfumed lotions, and creams for their aromatic properties.

What is the future price of cardamom?

Cardamom’s growing use in various dietary supplements such as tea bags, capsules, powders, liquids, and tablets, is anticipated to have a major beneficial impact on its market expansion.

Additionally, it is projected that the market will grow due to the rising demand for cardamom oil in the pharmaceutical and healthcare industries. This is fueled by the product’s antimicrobial qualities giving advantages in treatments for muscle soreness. Furthermore, the established application of cardamom oil, particularly in Asian culinary and pharmaceutical items will boost market expansion.

Thus, the price of cardamom will reach $12.34 to $23.21 per kilogram in 2028 and is forecasted to reach $74,365.71 million by 2028.

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