Last updated: January 2024
I have researched the current prices of cardamom in Malaysia and found that they are between MYR 41.47 and MYR 80.18 per kilogram or between MYR 18.81 and MYR 36.36 per pound (lb) in Kuala Lumpur and George Town. These prices are subject to change based on various factors such as demand, supply, and seasonality.
Cardamom is a popular spice that is widely used in Malaysian cuisine. It is known for its unique flavour and aroma, which makes it a favourite among chefs and home cooks alike. Cardamom is used in a variety of dishes, including curries, biryanis, and desserts. It is also used in traditional medicine due to its potential health benefits. As a result, the demand for cardamom in Malaysia is high, which can impact its price.
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Cardamom Overview
Cardamom is a spice that is widely used in Malaysia for culinary purposes and as a traditional medicine. It is a member of the ginger family and is known for its strong, unique flavour. Cardamom is grown in the highlands of Malaysia and is harvested by hand.
The price of cardamom in Malaysia fluctuates depending on various factors such as supply and demand, weather conditions, and market trends. According to Selina Wamucii, the retail price range for Malaysia cardamom in September 2023 is between US$ 9.14 and US$ 17.67 per kilogram or between US$ 4.15 and US$ 8.01 per pound(lb).
Tridge provides real-time offers, market prices, news, insights, suppliers, and trade data for cardamom in Malaysia. The platform offers a market overview of cardamom in Malaysia at a glance, including domestic prices and analysis. Tridge also provides wholesale and farmgate price data collected from trusted local sources.
Shopee Malaysia offers cardamom for sale online, with prices ranging from RM5.85 to RM23.00. Customers can enjoy discounts and deals when purchasing cardamom on the platform.
In conclusion, cardamom is an important spice in Malaysia, with a fluctuating price range depending on various factors. Selina Wamucii, Tridge, and Shopee Malaysia offer valuable insights into the current market trends and prices for cardamom in Malaysia.
Current Cardamom Market in Malaysia
Cardamom is a popular spice in Malaysia, used in many traditional dishes and beverages. Currently, the retail price range of cardamom in Malaysia is between MYR 41.47 and MYR 80.18 per kilogram or between MYR 18.81 and MYR 36.36 per pound (lb) in Kuala Lumpur and George Town.
According to Tridge, the wholesale market price of whole cardamom in Malaysia varies depending on the region and variety. Currently, the price ranges from MYR 50 to MYR 100 per kilogram according to Tridge.
Malaysia produces cardamom, but most of its demand is met through imports. The country's cardamom market is heavily influenced by global market trends, which can affect its prices.
The demand for cardamom in Malaysia is driven by the food and beverage industry. The spice is used in many traditional dishes and beverages, such as teh tarik, a popular Malaysian milk tea. Cardamom is also used in the production of perfumes, soaps, and other cosmetics.
Overall, the cardamom market in Malaysia is influenced by global market trends and demand from the food and beverage industry. Prices can vary depending on the region and variety, but as of September 2023, the retail price range in Kuala Lumpur and George Town is between MYR 41.47 and MYR 80.18 per kilogram or between MYR 18.81 and MYR 36.36 per pound (lb).
Historical Cardamom Prices in Malaysia
Over the past few years, the price of cardamom in Malaysia has been fluctuating due to various factors such as supply and demand, production costs, and market trends. As of September 2023, the retail price range for cardamom in Malaysian Ringgit is between MYR 41.47 and MYR 80.18 per kilogram, or between MYR 18.81 and MYR 36.36 per pound (lb) in Kuala Lumpur and George Town, according to Selina Wamucii.
Historically, the price of cardamom in Malaysia has been affected by several factors. For instance, in 2021, the Malaysian nutmeg, mace, and cardamom market recorded growth in sales value, which increased by 4.8% to $X, according to IndexBox. Over the period under review, consumption showed strong growth.
In 2020, the price of cardamom in Malaysia was affected by the COVID-19 pandemic, which disrupted global supply chains and led to a decrease in demand. According to Tridge, the price of Whole Cardamom in Malaysia was approximately MYR 50 per kilogram in January 2020, but it dropped to MYR 40 per kilogram in April 2020.
In 2019, the price of cardamom in Malaysia was affected by a shortage of supply due to unfavorable weather conditions that affected production. Furthermore, the price of Whole Cardamom in Malaysia was approximately MYR 60 per kilogram in January 2019, but it increased to MYR 80 per kilogram in May 2019.
Overall, the price of cardamom in Malaysia has been subject to fluctuations over the years due to various factors, including supply and demand, production costs, and market trends.
Factors Influencing Cardamom Prices
Cardamom prices are influenced by several factors that affect the supply and demand of the spice. Here are some of the key factors that impact the price of cardamom in Malaysia:
1. Weather Conditions
Cardamom plants require specific weather conditions to grow and thrive. Extreme weather events such as droughts, floods, and storms can damage the crops and reduce the yield. This can lead to a shortage of supply, causing the prices to increase.
2. Harvesting Seasons
Cardamom has specific harvesting seasons, and the timing of the harvest can affect the quality and quantity of the crop. If the harvest is delayed, the quality of the cardamom may decrease, and the prices may increase due to a shortage of supply.
3. Geopolitical Factors
Geopolitical factors such as trade policies, political instability, and conflicts can also impact the price of cardamom. For example, if there is a trade dispute between Malaysia and a major importer of cardamom, it may result in a decrease in demand and a subsequent decrease in prices.
4. Supply and Demand
Like any other commodity, the price of cardamom is also influenced by the balance between supply and demand. If the demand for cardamom increases, and the supply remains the same, the prices will increase. Conversely, if the supply increases, and the demand remains the same, the prices will decrease.
5. Cultivation Practices
The cultivation practices used by farmers can also impact the price of cardamom. For example, if farmers use sustainable and eco-friendly farming practices, it may result in higher quality cardamom, which can command a premium price in the market.
In summary, several factors influence the price of cardamom in Malaysia, including weather conditions, harvesting seasons, geopolitical factors, supply and demand, and cultivation practices. By understanding these factors, farmers, traders, and consumers can make informed decisions about buying and selling cardamom.
Cardamom Price Forecast
Based on current market trends and historical data, I predict that the price of cardamom in Malaysia will continue to remain stable in the near future. There are several factors that contribute to this forecast.
Firstly, the demand for cardamom has remained steady over the years due to its versatile use in various cuisines and its medicinal properties. This consistent demand has helped to keep the price of cardamom relatively stable.
Secondly, the production of cardamom in Malaysia has also been consistent, with no significant fluctuations in recent years. This means that the supply of cardamom is able to meet the demand, resulting in a stable price.
However, it is important to note that external factors such as weather conditions and global market trends can also affect the price of cardamom. For example, a sudden increase in demand from other countries or a decrease in production due to unfavorable weather conditions can cause the price of cardamom to rise.
In conclusion, while there may be some external factors that can affect the price of cardamom in Malaysia, based on current market trends and historical data, I predict that the price of cardamom will remain stable in the near future.
Impact of Global Market on Cardamom Price
As a global commodity, the price of cardamom in Malaysia is heavily influenced by the global market. The demand and supply of cardamom in other countries can affect the price of cardamom in Malaysia.
One of the biggest factors that can impact the price of cardamom is the weather. Cardamom is primarily grown in India, Guatemala, and Sri Lanka, and any adverse weather conditions in these countries can lead to a decrease in supply and an increase in price. For example, in 2020, the price of cardamom in India increased by almost 50% due to heavy rains and floods that affected the crop yield.
Another factor that can impact the price of cardamom is the demand from other countries. For example, Saudi Arabia is one of the largest importers of cardamom, and any increase in demand from this country can lead to an increase in price. Similarly, any decrease in demand from other countries can lead to a decrease in price.
The global market can also impact the price of cardamom through currency fluctuations. As cardamom is traded in US dollars, any changes in the exchange rate between the US dollar and the Malaysian ringgit can impact the price of cardamom in Malaysia.
In conclusion, the global market has a significant impact on the price of cardamom in Malaysia. The weather, demand from other countries, and currency fluctuations are just a few of the factors that can affect the price of this commodity. As such, it is important for traders and buyers to keep a close eye on the global market to make informed decisions about buying and selling cardamom.
Government Policies and Cardamom Pricing
As the price of cardamom continues to fluctuate in Malaysia, the government has implemented various policies to stabilize the market and ensure adequate supply of the spice. One such policy is the Keluarga Malaysia Maximum Price Control Scheme (SHMKM), which was launched in December 2021 and will be in effect until the end of the year.
Under the SHMKM, the government has set maximum prices for essential goods, including cardamom, in an effort to curb rising prices and make them more affordable for consumers. The scheme offers discounts of up to 50% on essential goods, which has helped to alleviate the financial burden on many households.
In addition to the SHMKM, the government has also implemented other measures to stabilize the price of cardamom in Malaysia. These include:
- Price monitoring: The Ministry of Domestic Trade and Consumer Affairs regularly monitors the prices of essential goods, including cardamom, to ensure that they are not being sold at inflated prices.
- Import regulations: The government has imposed regulations on the import of cardamom to ensure that there is a sufficient supply of the spice in the local market.
- Subsidies: The government provides subsidies to farmers to encourage them to grow cardamom and other spices, which helps to increase the supply and stabilize prices.
Despite these efforts, the price of cardamom in Malaysia remains subject to market forces, such as supply and demand. As such, it is likely that prices will continue to fluctuate in the future. However, the government's policies have helped to mitigate the impact of these fluctuations on consumers and ensure that they have access to affordable cardamom.
Cardamom Price in Malaysia
Based on my research, the current prices of cardamom in Malaysia range from MYR 41.47 to MYR 80.18 per kilogram or between MYR 18.81 and MYR 36.36 per pound (lb) in Kuala Lumpur and George Town. These prices may vary depending on the region and variety of cardamom.
It is important to note that the demand for cardamom in Malaysia is primarily driven by the industrial segment, which accounts for 80% of the total market. The remaining 20% is traded for spice purposes with buyers mostly consisting of small shops and households. Overall demand by the CTM production is estimated at 2,000 metric tons annually.
While the production of nutmeg, mace, and cardamom in Malaysia has remained relatively flat, there was a significant increase in production volume in 2015 by 299% against the previous year. It is unclear how this affected the market price of cardamom in Malaysia.
Overall, the cardamom market in Malaysia seems to be stable, with prices fluctuating within a reasonable range. However, it is important to keep an eye on market trends and demand in order to make informed decisions about buying and selling cardamom.
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