Cardamom E-Auction Unveiled

Kochi: The first ever e-auction in cardamom was officially unveiled at Bodinayakannur on Aug 23, by the Union Minister of State for Commerce, Mr Jairam Ramesh. Launching the new system, the Union Minister said it would result in more transparency in trading and the growers would be benefited. At the Cardamom Processing and Marketing Company (CPMC) auction at Kumily on Wednesday, prices declined by Rs 15- Rs 20 a kg from that of the previous auction, on selling pressure. Maximum price was at Rs 525 a kg and minimum at Rs 275 a kg. Average was Rs 410 a kg. 8 mm capsule with good colour fetched Rs 500 - 540 a kg. 7 mm -8mm was sold at Rs 450 - 500 while 7 mm at Rs 425 - Rs 450 a kg. Current bulk was fetching Rs 375 - Rs 400 a kg. Some of the auctioneers told that if the new system was successful, they would switch over to e-auction in a month's time.

A major change was being brought about in cardamom marketing with the aim to bring about increased benefits to farming community in terms of price and transparency in execution that would curtail the formation of cartels that have been the bane of the prevailing system. A proposal to replant cardamom in about 30,000 hectares in the next 5-7 years in Kerala, Tamil Ndu and Karnataka at an estimated cost of Rs 211 crore had been approved. Though 12,000 tonnes of cardamom was produced in the country, only 6 per cent was currently exported.