Cumin, cardamom and other spices are witnessing a surge in prices in the spice market ahead of the holy festival of Eid-ul-Azha. The prices of imported cumin and cardamom have increased by one and a half to three times their previous rates, with cloves more than doubling in price. Traders attribute this price hike to the reduced import of cardamom and cumin caused by the dollar crisis and increased customs duties.
In the wholesale market of Khatunganj, Chittagong, cumin seeds are being sold at Tk 850 per kg, while cardamom prices range from Tk 1,000 to Tk 2,300 per kg depending on the origin. The quality of Guatemalan cardamom has made it particularly sought after. Additionally, the prices of other spices like cloves, nutmeg, jayatri, cinnamon, sweet cumin, pepper, coriander, and dry chili have also risen substantially. Importers have been impacted by tightened credit, a shortage of dollars, increased tariffs, and smuggling, leading to higher prices compared to previous years. The situation is expected to stabilize after the festival.
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