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Spice auctions

Regulated marketplaces where growers and traders sell cardamom, pepper and other spice by lot.

A ring: peppercorns and other round berries, tipped from the jar and counted by the spoon.

Also: Kochi auction, Spices Board auction, cardamom auction, pepper terminal market

Spice auctions give small growers a transparent price. In India the Spices Board runs electronic auctions of cardamom at Bodinayakanur and Vandanmedu, in Tamil Nadu and Kerala, and pepper trades through the Indian Pepper and Spice Trade Association in Kochi. Lots are sampled, graded for size, colour and moisture, and sold to the highest bid. Guatemala, Sri Lanka and Indonesia have their own systems, and global prices follow harvest news and exchange rates. Auctions help buyers verify grade and provenance, and they reveal swings, such as the spikes after poor monsoons. Futures markets also exist for pepper and cardamom in India.

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