First-Ever Cardamom Auction In New Delhi Commences

The first-ever cardamom auction in the capital, a centre with tremendous potential for the commodity, commenced here today with the first lot on offer being sold for Rs 421 a kg.

The first lot comprised 98.8 kg and the auction was inaugurated by Spices Board chairman V Jayashankar at the historic Kari Baoli market.

However, the second lot was withdrawn as the 99 kg premium bold variety lot did not fetch the price expected by the seller. Traders bid the lot at Rs 490 a kg.

A total of 6574.3 kg, comprising 57 lots, was on offer today and the auctions was in progress until late in the afternoon.

 

Cardamom auctions are now expected to be held every Monday, auctioneers Indebo Overseas told PTI.

Initially, the auctions faced problems as some of the traders expressed the fear that their participation in the auctions could lead to needless probing by Income Tax department.

Traders also said they could be charged with dealing in smuggled cardamom from Guatemala.

It took some efforts on the part of Spices Board chairman to convince the traders that they would not face any trouble for taking part in the auctions.

Earlier, inaugurating the auctions Jayashankar said cardamom had tremendous potential in North India as it was being used widely in different products.

The auctions would provide direct link between North Indian traders and growers in South India. Stating that the traders could face problems initially, he said the Spices Board would render all help to solve the teething problems.

The auctions while ensuring good prices for the growers would also help traders to get the commodity at reasonable price.

S M Acharya, joint secretary, ministry of commerce, in his presidential address, said auctions had been introduced in Delhi as part of the government efforts to improve spices trade in the country.

The consumer also stood to gain from the auctions as they would get quality cardamom.

Spices Board director (marketing) K P G Menon said proper development of domestic market for cardamom could help in the rise of its internal consumption sharply.

The board joint director (marketing) S Kannan said commencement of auctions in Delhi was significant since it was the centre where cardamom consumption was the highest. The capital was also the entry point for many states, he said.

Delhi, which is a centre with tremendous potential for cardamom, held its first-ever cardamom auction with the first lot on offer being sold out for Rs 421 a kg. Cardamom auctions are now expected to be held every Monday in the capital. These auctions will also provide a direct link between traders in North India and growers in South India.