Cardamom price soars to Rs. 100,000 per 40 kg

By Chandra Pandak

Taplejung, Nov. 12: The price of large cardamom has reached Rs. 100,000 per 40 kg (one man) following a continuous rise in the price of the cash crops. 

In Fungling Bazaar, the district headquarters of Taplejung, the cost of 40 kg of cardamom has climbed to Rs. 100,000. 

According to local trader Kamal Baral, trading began on Monday at the new rate in Fungling Bazaar. He said that high-quality large cardamom, which is characterised by large size and is free of dust and tails, is being sold at this price.

The price, which stood at Rs. 97,000 per 40 kg on Saturday, has now increased to Rs. 100,000, he added.

Meanwhile, the standard variety of cardamom is being traded at Rs. 94,000 for 40 kg. As of Saturday, the local market price for the standard variety was Rs. 91,000 for the same quantity. President of Large Cardamom Entrepreneurs Association of Nepal (LCEAN), Taplejung, Bhadra  Bir Regmi, said the upward trend in prices has persisted since cardamom began entering the market this year and shows no signs of stopping.

Regmi, who is also a local trader in Fungling Bazaar, noted that the price of cardamom has been setting successive records this year as it continues to rise. He also indicated the possibility of further price increases. 

Nearly a decade and a half ago, the price of cardamom had reached Rs. 121,000 per 40 kg, and traders are optimistic that it could reach that level again this year.

The price surge from the beginning of the season, coupled with reduced production, has led to speculation that new records could be set. Farmers reported that production of large cardamom has declined this year compared to last year. 

Nevertheless, rising prices are generating excitement among the farmers and traders.