Nepal: Firm large-cardamom opening sets positive tone ahead of peak harvest

• New-crop price starts nearly 16% above last year
• October-November arrivals to set the market direction

New-crop large cardamom has started trading at NPR 95,000/40 kg in Taplejung, giving the 2026-27 season a firm opening. The price is NPR 13,000, or nearly 16%, above last year’s NPR 82,000/40 kg. Farmers and traders have responded positively as early supplies from lower-elevation areas enter the market.

Peak arrivals remain the key test

Last season, prices rose above NPR 105,000/40 kg after opening at NPR 82,000, while the previous season’s peak reached NPR 110,000/40 kg. Large-grained, high-quality cardamom typically commands a NPR 5,000-7,000/40 kg premium, with premium produce reaching NPR 112,000 last year and NPR 114,000 the previous year.

Taplejung’s latest district data show production at 2,291 tonnes, down from 2,539 tonnes, despite cultivated area rising to 4,578 hectares from 4,304 hectares. However, this is district-level data for the latest completed crop and should not be treated as a national forecast for the new season.

India link keeps regional market in focus

Nepal exported a record 6,395 tonnes of large cardamom worth NPR 12.64 billion in FY2025-26, with India absorbing around 99% of shipments. Strong export earnings reflect higher prices and sustained overseas demand.

At Nepal Rastra Bank’s fixed rate of INR 1 = NPR 1.60, the new-crop price equates to about INR 1,484/kg. This compares with the latest Spices Board India benchmark of INR 1,800/kg for Badadana in Siliguri on Aug. 6. The comparison is indicative rather than direct, as the prices differ by origin, grade and trading stage.

Outlook

The market bias is firm, but further gains will depend on October-November arrivals, quality, export buying and Indian demand. Lower yields could support prices, while heavier arrivals could limit upside.