CARDAMOM prices have remained depressed in southern India over recent weeks due to lack of buying at auctions in Kerala and Tamil Nadu in the face of competitive offers from rival producer Guatemala. At recent auctions, upcountry buyers were inactive and exporters kept away. This weak buying support from domestic dealers was attributed to the […]
INDIA’S Spices Board (ISB) has further extended the airfreight assistance of Rs45 ($1.02) a kg for cardamom exports to West Asian countries up to February 28 in order to make the Indian product competitive in overseas markets. In a bid to boost exports of cardamom and attract a consequent increase in prices, the ISB introduced […]
DAILY trading volumes on India’s three nationallevel multi-commodity futures exchanges suggest that they are multi only in name. While the Multi-Commodity Exchange of India (MCX) seems to be primarily specialising in bullion trading, the National Commodity and Derivatives Exchange (Ncdex) has emerged as an agri-products – and particularly guar – exchange , while the National […]
TURKEY’S Giresun Chamber of Trade and Exchanges (GTB) has announced plans to launch a dedicated hazelnut bourse later this year as part of its ongoing attempts to protect local growers from the vagaries of the world market. Despite being the world’s largest hazelnut producer, Turkey has been unable to influence global prices and, with international […]
SPICE growers in India’s key-producing state of Kerala are to benefit from a federal agricultural crop insurance that has been introduced to offer protection against fluctuating global prices. A national insurance programme is expected to cover growers of cardamom, arecanut, pepper, coconuts, cashews, coconuts, rubber and coffee in the state. Sharad Pawar, India’s agriculture minister, […]
PLANS by India’s spice trade to commence largescale cardamom futures trading have yet to take off across the country following the inability of the Spices Board of India (SBI) to issue quality certificates to delivered products. According to the planned trading arrangements, growers would deliver their cardamom to exchange-approved warehouses and the SBI would issue […]
INDIAN cardamom exports look set to remain high over the coming weeks following the Spices Board of India’s (SBI) decision to extend its air freight subsidy scheme until the end of December.Under the terms of the support programme, exporters receive what effectively amounts to a transport subsidy. The scheme had originally been introduced on October […]
INDIAN cardamom growers are fearful that production might lag behind demand by up to 25% this season due to expectations of a surprise surge in overseas orders. At the beginning of the cardamom season in September, the Spices Board of India (SBI) predicted that the country’s output would rise by 5% from the previous year. […]
INDIA’S National Multi-Commodity Exchange (NMCE) has pledged to continue trading its cardamom futures contract in defiance of calls for its immediate suspension. Since the launch of the contract almost a year ago, many people across the industry have called for it to be scrapped. However, Kailash Gupta, the NMCE’s managing director, said that the contract […]
INDIA’S National Multi-commodity Exchange (NMCE) is wary of acceding to a request by the Indian Spices Board (ISB) to temporarily suspend futures trading in cardamom on the grounds that the prices quoted in the contract were far below prevailing at auctions. The NMCE is of the view that futures trading should fall under the jurisdiction […]