Cardamom e-auction gains pace
As the cardamom auctions turn online, the high price of the commodity is keeping both growers and traders happy.
By PK Krishnakumar, TNN |
KOCHI: As the cardamom auctions turn online, the high price of the commodity is keeping both growers and traders happy. E-auctions of cardamom now take place five days a week at Vandanmettu in Kerala and two days at Bodinaikanur in Tamil Nadu while manual auctions have been stopped by the Spices Board. Any difference of opinion over the e-auction system among the traders and growers seems to have disappeared with prices looking up.
The average cardamom price at Vandanmettu on Wednesday was Rs 530 per kg. The last recorded highest price of cardamom was Rs 622 per kg in 2001-02, secretary of Cardamom Growers Association KK Devassia said. Last year, the average auction price was Rs 350 per kg.
The e-auctions have been welcomed by small traders and growers who feel it will help to counter the efforts of big cartels. The large traders are not entirely happy. But they are not complaining as the prices are ruling high.
According to them, e-auctions have taken away the competitive spirit of the auctions.
They also suspect the ability of e-auctions to handle large lots of cardamom. With a shortfall in production, the arrivals have been on the low side.
On Wednesday it was just 27 tonne. The current system of e-auctions is able to handle only up to 45 to 50 lots per hour. The real test of the e-auction will happen when the arrivals increase substantially, probably by next season, according to some traders.
The average cardamom price at Vandanmettu on Wednesday was Rs 530 per kg. The last recorded highest price of cardamom was Rs 622 per kg in 2001-02, secretary of Cardamom Growers Association KK Devassia said. Last year, the average auction price was Rs 350 per kg.
The e-auctions have been welcomed by small traders and growers who feel it will help to counter the efforts of big cartels. The large traders are not entirely happy. But they are not complaining as the prices are ruling high.
According to them, e-auctions have taken away the competitive spirit of the auctions.
They also suspect the ability of e-auctions to handle large lots of cardamom. With a shortfall in production, the arrivals have been on the low side.
On Wednesday it was just 27 tonne. The current system of e-auctions is able to handle only up to 45 to 50 lots per hour. The real test of the e-auction will happen when the arrivals increase substantially, probably by next season, according to some traders.
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