Indian cardamom prices jump in 2025 on strong rains and export demand
The year 2025 turned highly favourable for Indian cardamom, with strong monsoons boosting productivity and prices staying firm above ₹2,400 per kg.
| Photo Credit:
JOMON PAMPAVALLEY/THE HINDU
The year 2025 has proved exceptionally favourable for Indian cardamom, with prices and productivity rising sharply, helping the crop “regain its aroma.” Average price realisation has crossed ₹300 per kg per acre and is expected to touch ₹400–500 shortly.
P. C. Punnoose, General Manager of KCPMC Ltd, said uninterrupted rains since March created ideal climatic conditions across growing regions, enabling plantations to maintain a consistently healthy productivity level. He noted that the low output in 2023–24 meant there was no carry-over stock either with farmers or in consuming centres. This cleared pipeline ensured smooth, uninterrupted sales in both domestic and international markets.
Besides, crop losses in Guatemala over the past two seasons have strengthened India’s position in the export market, both last year and this year, he said.
These combined factors helped the cardamom sector sustain an average price above ₹2,400 a kg throughout the season. Prices remain strong, generating significant momentum in growing regions despite an acute labour shortage affecting harvesting operations.
Good spring showers likely
Punnoose expressed optimism about the 2026 outlook, citing favourable South West and North East monsoons that are likely to support productivity. With attractive prices that encourage farmers to maintain their plantations, the overall plantation landscape is becoming “stronger and greener.”
S.B. Prabhakar, a cardamom planter in Idukki, said calendar year 2025 was a better year for producers after the devastating El Niño drought the previous year. With La Nina conditions expected to return to neutral conditions, the sector should expect good spring showers by March 2026.
Guatemalan production is also expected to rebound next season from around 17,000 to 20,000 tonnes. India should harvest between 30,000 and 35,000 tonnes next season, depending on the weather. The prices will be dictated by the exact rebound of Guatemala’s production next season. If both Indian and Guatemalan production remains good, the prices could return to ₹1,800 to ₹2,000 per kg next season.
Moderately bullish expecations
Global demand for Indian cardamom is expected to remain healthy in 2026, with interest continuing to rise from the Middle East, Europe, and other international markets, supported by increasing use in the health, wellness, and food industry sectors. If these favourable conditions persist, they will help sustain market strength through the year, said Hareesh M.V., Director, Wealth Management Service, Harnez Fin EPSL.
The expectation for 2026 is a moderately bullish to stable market for quality cardamom, with upside potential if weather conditions and export demand remain favourable. However, volatility should be expected, as weather patterns and shifts in global demand will remain key drivers, he said.
However, the US’s removal of additional duties on many agricultural and spice products, including cardamom, from the punitive tariff regime will restore competitiveness for Indian spices in the US market. It is expected to stabilise or revive export demand, he said.
Published on December 29, 2025
