Changes in auction rules have pushed Indian cardamom prices up, amid the concerns over sluggish export demand and weak buying in the domestic market. The interim measures implemented by the Spices Board during this season were aimed at arresting the dip in cardamom prices. However, a bumper harvest and subdued demand saw prices tumbling, much to the chagrin of the growers.
A licensed auctioneer's total quantity per auction has been limited to 65/mt. Of this, the share of a licensed dealer is limited to 30%, while the rest should be from growers. This is to ease the fear of growers that the re-pooling of cardamom by dealers at auctions led to the price fall. Prices have increased up to 15% from March till week 14.
A licensed auctioneer's total quantity per auction has been limited to 65/mt. Of this, the share of a licensed dealer is limited to 30%, while the rest should be from growers. This is to ease the fear of growers that the re-pooling of cardamom by dealers at auctions led to the price fall. Prices have increased up to 15% from March till week 14.
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