THE introduction of an e-auction for cardamom by the Spices Board of India, at Vandanmedu, and Bodinayakkanur in Tamil Nadu, has ensured accountability and transparency in trading, according to market sources. The e-auction was started at Bodinayakkanur with 30 computers in August before it was launched at Vandanmedu in December with 60 computers. Sources in the auction centres told The Hindu that the e-auction was beneficial to both cardamom growers and traders by ensuring healthy competition among bidders. Unlike in open trading, the chances of manipulation and traders forming a cartel to keep the prices low was basically nil, they said. Trading was electronically monitored and the maximum price was fixed as quoted by the highest bidder... Read More