The Hindu Business Line : Cardamom e-auction resumes

Cardamom traders in Bodinayakannur decided to participate in the e-auction on Thursday following assurance from the Spices Board that their interests would be protected if they attended the trading under the new system.

Majority of the traders participated at the e-auction, which commenced at 4 p.m. in Cardamom Planters Association hall there. The decision was taken after marathon meetings at Thevaram and Bodi from morning till 3 p.m. Normally, the auction is conducted from 11 a.m.

Total arrivals stood at 11.45 tonnes and almost the entire quantity was sold out. The prices moved up by Rs 10 a kg from the Wednesday auction in Kumily by the Cardamom Processing and Marketing Company (CPMC).

‘Apprehensive traders’

The traders were under the apprehension that introduction of e-auction would lead to their elimination from the trade. Mr V.J. Kurien, Chairman, Spices Board, who had at a meeting of all stakeholders on Wednesday allayed their fears, Mr T. Ashok Kumar, Planter and Member, Spices Board, told Business Line from Bodinayakannur. The dealers/traders were also assured that the defects in the e-auction system would be rectified by the TCS, they said.

The Board would be setting up a common e-auction centre either at Kumily or Vandanmedu, where the five auctioneers operating in Kerala’s Idukki district could conduct auction on their allotted days, he said.

Welcoming this decision, some of the auctioneers said that they could use the common facility till they are able to set up their own e-auction centre.

At the Kumily auction on Wednesday, arrivals stood at 36 tonnes and the entire quantity was sold out. Compared to Sunday auction prices, the market moved up by Rs 10 a kg, Mr P.C. Punnoose, General Manager, CPMC said.

Heavy rains

North Indian buyers were active. Exporters also participated and bought some 4.5 tonnes of the commodity. The confusion that was prevailing in the e-auction and heavy rains for the past couple of days in the region had its impact on the trading community who were not very enthusiastic, Mr Punnoose said. Since the stalemate over the e-auction is over, the situation might improve in the coming auctions.

Eight-mm bold good colour was fetching Rs 500 to Rs 540 a kg, while 7-mm to 8-mm depending upon colour was being sold at Rs 425 to Rs 450 a kg. Below, 7-mm capsules were fetching Rs 390 to Rs 410 a kg. Current bulk was sold at Rs 415 a kg. There is also good demand in view of the ensuing festival season in north India, he said.

The torrential rains for the past few days in the growing regions have affected the picking activities, he said. Besides, the continuous downpour without sunshine would result in fungus diseases decaying mainly the stem and pinnacles, Mr Punnoose pointed out.

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