The price of cardamom, which had reached 102,000 per piece in the Phungling market, has dropped to 92,000, traders said, with a drop of 1,000 in a single day.
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The market price of cardamom has been continuously declining recently. Traders say that the price has been fluctuating sharply since November.
On October 23, cardamom (40 kg) was traded at Phungling market for up to Rs 102,000 per man. This is considered the highest price of this year. But this price could not last more than 24 hours. Since then, the price, which has been gradually decreasing, has fallen to Rs 92,000 per man today. Cardamom, which was traded at Rs 93,000 per man on Wednesday, fell by Rs 1,000 in a day, informed trader Kamal Baral.
The price of cardamom, which was stable at Rs 85,000 per man until the second week of Asoj, had increased by Rs 15,000 to Rs 17,000 in a month, reaching Rs 102,000 from Rs 80,000 per man when the new production started. But the high price did not last long and has fallen sharply again. Traders say that the price of cardamom fluctuates as the price is determined according to the demand and price in the international market.
Cardamom cultivation is currently taking place in more than 7,500 hectares of land in Koshi Province. The Mechi Customs Office has stated that cardamom worth Rs 7.67 billion was exported to India from the Kakarbhitta border crossing in the fiscal year 2081/82 alone. The office has stated that cardamom exports have increased by 33 percent in the first quarter of the current fiscal year 2082/83. It has been stated that 1,072 metric tons of cardamom worth Rs 1.67 billion were exported to India from the Kakarbhitta border crossing in the months of Shrawan, Bhadra and Asoj.
