India: Big cardamom firms on tight arrivals while green cardamom softens

• Traders hold back quality lots of big cardamom ahead of festive season
• Cautious demand across other spices, oilseeds could limit cardamom upside

Big cardamom prices in Delhi firmed as reduced arrivals and limited selling of quality lots met selective buying. Traders are holding stocks ahead of the festive season, while softer demand and profit-taking kept other spice and oilseed segments under pressure. Green cardamom, meanwhile, remained softer after late-July highs.

Big cardamom gains

Big cardamom prices rose to $17.45-17.56/kg, supported by tighter arrivals and sellers holding quality lots. In contrast, rai and Majitaraj weakened on thin buying and profit-taking.

Green cardamom FCA New Delhi offers stood at EUR 10.50-10.80/kg for 6.5-6.8 mm, EUR 14.25-14.50/kg for 7-7.2 mm, EUR 16.10-16.30/kg for 7.5 mm and EUR 19.00-19.50/kg for 8 mm. Higher-grade FOB prices remained above domestic levels due to freight and export premiums but eased slightly m-o-m.

Tight supplies support prices

Big cardamom supply remains tight as stockists hold quality material, while buying has improved selectively for higher grades. Volumes remain modest. Elsewhere, cautious consumer demand is limiting inventory building and forcing discounts in weaker segments.

Premium pistachios, walnuts and almond kernels remained firm to mildly higher on restricted supply and initial festive inquiries, providing some support to premium spice demand. However, demand remains grade-sensitive, with better-quality material attracting stronger buying.

Weather limits risk

Big cardamom fundamentals remain supportive, with constrained arrivals and gradually improving seasonal demand encouraging stockists to hold inventories for the festive and peak consumption period. However, cautious demand across other spices and oilseeds could limit the upside.

Weather remains a secondary factor. Rainfall in southern spice-growing areas has been moderate and uneven, with conditions slightly below normal but expectations of improvement later in the season. Earlier heavy showers in the Himalayan production belt have not caused fresh major disruptions. Near-term prices are therefore likely to depend mainly on arrivals, stockist selling and grade-wise demand.

Outlook

Big cardamom is likely to remain firm on tight arrivals and restricted quality stocks, with festive demand offering further support. Green cardamom may stay balanced, with softer export offers encouraging selective buying on dips rather than a sharp decline.