TAPLEJUNG: The price of large cardamom has dropped by Rs 14,000 per maund following the arrival of the new harvest in the market.
Trading began in the first week of August, with the price initially set at Rs 96,000 per maund in Phungling bazaar. By October, the rate had fallen to Rs 82,000.
Bhadra Bir Regmi, chairman of the Cardamom Entrepreneurs Association in Taplejung, stated that prices have been declining steadily since the third week of August.
The sharp decrease shortly after the start of the season has caused concern among local traders and farmers who were anticipating better returns. Regmi attributed the price drop to a lack of demand from the international market.
Local traders had initially set prices based on the previous year’s figures, when standard cardamom traded for as high as Rs 106,000 per maund.
However, other traders noted that it is not yet time to be alarmed. Since October and November are the peak seasons for cardamom, they remain optimistic that international demand will pick up, potentially leading to a recovery in market prices.
