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Business EconomyPosted at: Jun 6 2020 12:04PM


Price of cardamom slightly improves at e-auction

Idukki, Jun 6 (UNI) The price of cardamom was slightly improved at the e-auction held by Sugandhagiri Spices Promoters and Marketing Agency at a Centre in Bodinayakanur of Tamil Nadu.
There was an improvement of Rs 163 at the e-auction held on Friday.
All the 9125 kg cardamom were auctioned at the Centre and the highest price was quoted at Rs 2,210, sources said on Saturday.
The farmers received on an average Rs 1780.43 per kg while they received Rs 1617.51 in the auction.
The withdrawal of ban on export of Indian cardamom to Gulf countries including Saudi Arabia was the main reason for improvement in the price.
Besides, the trend that production of cardamom will decline in Guatemala due to the COVID-19 pandemic has boosted the sentiment, sources added.
Spices Board of India relaunched the auction on alternate days with only a single agency conducting the auction.
The restrictions on inter-state travel due to COVID-19 was the main reason for suspension of cardamom e-auction.
UNI GKN CS 1201
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