Cardamom auction price

There has been a massive surge in the price of small cardamom in Indian markets of late – although the upswing has had little to do with the seasonal festival demand. The drive in prices has been triggered by competition between local traders and exporters to cover the product; emanating from apprehensions about a possible shortage of the aromatic spice this season, following a forecast of a sharp decline in output. The average price of small cardamom at individual auctions held in the states of Kerala and Tamil Nadu crossed the INR1,100 (USD16.50) a kilo level, even as the average of other auctions held in the past fortnight remained consistently above INR1,000 a kg, and in some cases, touched a high of INR1,500 per kg. The only previous occasion when the auction average crossed the INR1,000 a kg mark was during the 2010/11 season, which had been another poor year for the cardamom crop. Exporters appear to be seriously worried that small cardamom production in India this year could be in the range of 13,000-15,000 tonnes, compared to last year’s output of 31,000 tonnes. According to the general secretary of the Cardamom Planters’ Association (CPA), drought during the sowing season as well as strong winds, caused widespread damage to the crop. There have also been frequent disruptions in arrivals at Tamil Nadu auction centres, due to the ongoing dispute between that state and Karnataka over division of the waters of the River Cauvery. Consequent to the erratic weather of l...

Spice: Small Cardamom, Date of Auction: 16-Jun-2023, Auctioneer: South Indian Green Cardamom Company Ltd, Kochi, No.of lots: 216, Qty Arrived (Kgs): 55,276.3, Qty Sold (Kgs): 54,782.1, Max Price (Rs./Kg): 1769.00, Avg. Price (Rs./Kg): 1161.31 Spice: Small Cardamom, Date of Auction: 16-Jun-2023, Auctioneer: Green Cardamom Trading Company, No.of lots: 167, Qty Arrived (Kgs): 38,724, Qty Sold (Kgs): 34,911.1, Max Price (Rs./Kg): 1535.00, Avg. Price (Rs./Kg): 1129.93 Spice: Large Cardamom, Date: 15-Jun-2023, Market: Singtam, Type: Badadana, Price (Rs./Kg): 600.00, Spice: Large Cardamom, Date: 15-Jun-2023, Market: Singtam, Type: Chotadana, Price (Rs./Kg): 525.00, Spice: Large Cardamom, Date: 15-Jun-2023, Market: Gangtok, Type: Badadana, Price (Rs./Kg): 600.00, Spice: Large Cardamom, Date: 15-Jun-2023, Market: Gangtok, Type: Chotadana, Price (Rs./Kg): 500.00, Spice: Large Cardamom, Date: 15-Jun-2023, Market: Siliguri, Type: Badadana, Price (Rs./Kg): 800.00, Spice: Large Cardamom, Date: 15-Jun-2023, Market: Siliguri, Type: Chotadana, Price (Rs./Kg): 615.00, Daily Auction Price of Small Cardamom Daily Auction Price of Small Cardamom Sno Date of Auction Auctioneer No.of Lots Total Qty Arrived (Kgs) Qty Sold (Kgs) MaxPrice (Rs./Kg) Avg.Price (Rs./Kg) 1 16-Jun-2023 South Indian Green Cardamom Company Ltd, Kochi 216 55,276.3 54,782.1 1769.00 1161.31 2 16-Jun-2023 Green Cardamom Trading Company 167 38,724 34,911.1 1535.00 1129.93 Daily Auction Price of Large Cardamom Daily Auction Pric...

Purpose Transparent and fair price discovery is essential to commodity market participants in the trade value chain for competitive benefit. The purpose of this paper is to investigate the price discovery of Indian cardamom at e-auction, spot and futures markets in addition to the existence of the day of the week effect at e-auction apart from exploring a novel price risk management framework. Design/methodology/approach This study used Johansen co-integration, vector error correction model, Granger causality and regression with dummy variables to understand a day of the week effect in high-value agri-commodity of cardamom e-auction prices. These price data were based on authenticated sources of Spices Board India and Multi Commodity Exchange of India Ltd. Findings The statistical results indicate price discovery exists in the e-auction market and it leads to spot and futures prices. cardamom e-auction prices are negatively related to cardamom futures and positively related to spot prices. It also finds the non-existence of the day of the week effect in the high-value cardamom e-auction system in India. The study revealed that a cardamom e-auction is more active in price discovery than a cardamom futures contract. Research limitations/implications These results shall facilitate policymakers to explore intervention of online forward market mechanism at the national level to ensure price discovery and market efficiency. However, the study did not explore reasons for the non-...

Cardamom Auction Vandanmedu, about 25 km from Kumily, is one of the world’s largest cardamom auction centres. Of the 20 cardamom auction centres in the world, 12 are in the Cardamom Hills in Periyar Valley. If you would like to witness a cardamom auction at Vandanmedu, an interesting experience, you will need prior permission from the concerned authorities. The various centres schedule different days of the week for their auctions. Traders from mainly Gujarat, Maharashtra and Bodinayakkannur in Tamil Nadu take part in the auction. Small growers dispatch their produce for selling to depots located in various places. At these depots, the cardamom will be segregated according to their variety and will then be taken to collection centres two days before the auction. Lot numbers are provided to the sellers. The quantity, weight and the date of auction is mentioned in the crop slip provided to them. The lot number is displayed on the packets in which samples are kept. These sample packets reach the centres the night before the auction and are then put on display on the display board. This makes it possible for prospective buyers to inspect samples before the auction. The auction starts with the ringing of a bell. Tables and chairs are arranged in a U shape and the bidders sit behind the tables, calling out prices. The auctioneers put the cardamom samples in the plates kept before the bidders. While the numbers are called out, the bidder, after a quick assessment of the sample, s...

16 June 2023 Auctioneer: South Indian Green Cardamom Company Ltd, Kochi • No.of Lots: 216 • Total Qty Arrived (Kgs): 55,276.3 • Qty Sold (Kgs): 54,782.1 • Max.Price (Rs./Kg): 1769.00 • Min.Price (Rs./Kg): 748.00 • Grower Avg.Price (Rs./Kg): 1146.60 • Dealer Avg.Price (Rs./Kg): 1191.75 • Avg.Price (Rs./Kg): 1161.31 15 June 2023 Auctioneer: Idukki Dist.Traditional Cardamom Producer Company Ltd • No.of Lots: 164 • Total Qty Arrived (Kgs): 33569.6 • Qty Sold (Kgs): 33000.4 • Max.Price (Rs./Kg): 2010.00 • Min.Price (Rs./Kg): 751.00 • Grower Avg.Price (Rs./Kg): 1165.14 • Dealer Avg.Price (Rs./Kg): 1141.24 • Avg.Price (Rs./Kg): 1155.46 15 June 2023 Auctioneer: Sugandhagiri Spices Promotors & Traders Pvt Ltd • No.of Lots: 235 • Total Qty Arrived (Kgs): 55,930.6 • Qty Sold (Kgs): 54,951.6 • Max.Price (Rs./Kg): 1892.00 • Min.Price (Rs./Kg): 624.00 • Grower Avg.Price (Rs./Kg): 1208.08 • Dealer Avg.Price (Rs./Kg): 1084.80 • Avg.Price (Rs./Kg): 1,153.25 14 June 2023 Auctioneer: Spice More Trading Company, Kumily • No.of Lots: 183 • Total Qty Arrived (Kgs): 42,840 • Qty Sold (Kgs): 38,499.3 • Max.Price (Rs./Kg): 1794.00 • Min.Price (Rs./Kg): 552.00 • Grower Avg.Price (Rs./Kg): 1131.60 • Dealer Avg.Price (Rs./Kg): 1080.55 • Avg.Price (Rs./Kg): 1098.14 13 June 2023 Auctioneer: The Kerala Cardamom Processing and Marketing Company Limited, Thekkady • No.of Lots: 184 • Total Qty Arrived (Kgs): 49,074.8 • Qty Sold (Kgs): 47,739.5 • Max.Price (Rs./Kg): 1593.00 • Min.Price (Rs./Kg): 753.00 • Gr...

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