Cardamom price drops by Rs. 4,000 per man

By Chandra Pandak,Taplejung, Aug. 31: Just two weeks after the new harvest of large cardamom began entering the market, its price has dropped by Rs 4,000. The price of fresh cardamom has fallen by Rs. 4,000 per man (equivalent to 40 kilos) in the last few days.

Following the price drop, local traders reported that cardamom is currently being traded at Rs. 84,000 per man in local markets. According to Bhadra Bir Regmi, president of the Taplejung Chamber of Commerce and Industry and local trader in Phungling, prices began to decline from Thursday. He confirmed that the price, which had previously been Rs. 88,000 per man, has now decreased.

Regmi said that the reason behind the price drop remains unknown. He added that since Nepal's cardamom prices depend on the international market, the fall in price may be a reflection of changes there. Kamal Baral, a local trader from Phungling, said that cardamom continued to trade at the reduced price on Saturday as well.

When the new harvest began hitting the market this year at Rs. 88,000 per man, farmers and traders were very optimistic. Compared to last year, cardamom started trading at Rs. 6,000 higher per man, leading to much enthusiasm among local producers and sellers. Last year, the price had been Rs. 82,000 per man when the new harvest first appeared in the market.

However, this year, the sharp drop in prices within just two weeks has left farmers and traders alarmed. Unlike previous years, local producers and sellers have expressed a strong desire for more stable pricing, rather than erratic highs and lows. They believe that only fair and stable prices can ensure expectations of good returns while avoiding disappointment when prices fall.

Cardamom is a major cash crop in Taplejung. With the main harvesting season starting after the Nepali month of Ashwin (mid-September), some traders have expressed concern that price fluctuations so early in the season do not give a positive signal.

Cardamom farming is practiced in the nine local municipalities and 61 wards of the district except Ward No. 7 of Faktanglung Rural Municipality, Olangchungola. According to the Agriculture Knowledge Centre Taplejung, cardamom is cultivated on 4,165 hectares of land in the district. Last year, this area yielded 2,531 metric tonnes of cardamom. However, due to poor yields this year, farmers are predicting a decline in production.