Cardamom, known as the ?Queen of Spices?, is vital to India?s spice economy. Although nominal prices rose sharply from 2015 to 2024, farmers gained little in real terms once inflation was considered. Between 2016 and 2018, real incomes improved, but from 2019 onwards, inflation eroded most benefits, leaving farmers worse off despite record-high prices. The pandemic years deepened losses, and recent spikes created only paper prosperity, with over 60 per cent of income eaten by rising costs. This paper reveals that bigger prices don?t always means better lives of farmers. Real prosperity will come only when inflation is controlled, production is steady and farmers keep a fair share of the value.