Friday, 6th March 2015

Cardamom price touches highest ever to Rs 82,000 per 40 kg

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Price of cardamom, also known as the 'gold of the gorge', has reached Rs 82,000 per mound (40 kgs) in Kakadbhitta, Jhapa on Sunday.

The price was Rs 70,000 per mound during the same season last year.

The same price was only Rs 44,000 during Dashain festival. However, the price increased more than double in less than six months.

The price of the cardamom is sky-rocketing due to low production this year, according to the entrepreneurs.

Vice Chairman of the Nepal Cardamom Entrepreneurs Federation Nirmal Bhattarai said the price is not fixed by the farmer or the businessmen here. It is because there is shortage of cardamom in the market even as new production is four to five months away.

There are only 8,000 sacks of cardamom in Nepal now, but the market needs 100,000 sacks, he said.

Nepal's major export of cardamom market is India, where 60 percent is consumed and the rest 40 percent in gulf countries, said Bhattarai.