PLANS by India’s spice trade to commence largescale cardamom futures trading have yet to take off across the country following the inability of the Spices Board of India (SBI) to issue quality certificates to delivered products. According to the planned trading arrangements, growers would deliver their cardamom to exchange-approved warehouses and the SBI would issue […]
INDIAN cardamom exports look set to remain high over the coming weeks following the Spices Board of India’s (SBI) decision to extend its air freight subsidy scheme until the end of December.Under the terms of the support programme, exporters receive what effectively amounts to a transport subsidy. The scheme had originally been introduced on October […]
INDIAN cardamom growers are fearful that production might lag behind demand by up to 25% this season due to expectations of a surprise surge in overseas orders. At the beginning of the cardamom season in September, the Spices Board of India (SBI) predicted that the country’s output would rise by 5% from the previous year. […]
INDIA’S National Multi-Commodity Exchange (NMCE) has pledged to continue trading its cardamom futures contract in defiance of calls for its immediate suspension. Since the launch of the contract almost a year ago, many people across the industry have called for it to be scrapped. However, Kailash Gupta, the NMCE’s managing director, said that the contract […]
INDIA’S National Multi-commodity Exchange (NMCE) is wary of acceding to a request by the Indian Spices Board (ISB) to temporarily suspend futures trading in cardamom on the grounds that the prices quoted in the contract were far below prevailing at auctions. The NMCE is of the view that futures trading should fall under the jurisdiction […]
CARDAMOM traders are bracing themselves for higher prices over the next three months amid the belief that Guatemalan material is currently undervalued. Over the past month, Guatemalan cardamom exporters cut prices of 2003 stocks to stimulate buying interest ahead of the new crop, which is currently being harvested and should be available in December. European […]
GUATEMALAN cardamom prices have eased over recent weeks in anticipation of a good forthcoming crop coming at a time of relatively weak demand. Last week, some European traders quoted Guatemalan cardamom seeds as declining to $2,900 a tonne cif main European ports from $3,100 a tonne cif a fortnight earlier. Mixed yellow qualities (MYQ) were […]
INDIA’S Spices Board is to implement a Rs1m ($21,500) scheme for setting up large cardamom processing and packing units in north eastern states and Sikkim. It plans to establish 20 units during the current tenth five-year plan period, which ends in 2006/07… Read More
GUATEMALAN cardamom exporters have begun discounting their offers for mixed yellow quality (MYQ) material over recent weeks in an attempt to offload remaining stocks before the forthcoming 2004/05 harvest. Last week, some European traders quoted MYQ cardamoms at $2,200 a tonne cif main European ports compared with $2,400 a tonne a fortnight earlier. One London […]
EUROPEAN spice traders have predicted that global cardamom prices will remain weak during the course of the 2002/03 season and fall further in 2003/04 due to the gradual increments in Guatemala’s harvest. Cardamom prices in Guatemala, the world’s leading exporter, have been declining over the past few years as the crop slowly recovers from the […]