Cardamom is one of the world’s oldest and most valuable spice crops. Steam distilled from the seeds of Elettaria cardamomum, Cardamom Oil is prized for its warm, spicy, aromatic character and is widely used in both flavor and fragrance applications. Today, Guatemala and India are the two principal commercial origins, meaning weather conditions in either country can have a significant impact on global supply and pricing.

Guatemala, the world’s largest producer, has endured three difficult seasons. Unusual weather together with pressure from pests and diseases, has delayed harvests and kept production below average. Although the 2025-2026 crop was an improvement on the previous two seasons, it was still reported to be around 10% below normal. With no carryover stocks available and strong demand from the Middle East, particularly ahead of Ramadan, supplies remained tight throughout the season.

The current crop has now been sold, leaving little to no raw material available until harvesting begins again in November 2026. As a result, prices are expected to remain firm.

India’s crop for the 2025-2026 season ended up around average, but lower yields and no carryover stocks have kept prices higher than usual. With the season wrapped up, reports from Kerala’s Idukki region indicate that unusual weather could lead to a below-average harvest later this year. Despite this, India is in a better position than Guatemala supply-wise and is likely to be the main supplier for the global market until the next harvest comes in.

With Guatemalan supplies exhausted and uncertainty surrounding India’s next crop, the market is expected to remain firm over the coming months. Weather conditions during the remainder of the growing season are likely to determine both production levels and the direction of prices into 2027.