Food Crisis

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[quote name='ramana' date='20 January 2011 - 01:50 AM' timestamp='1295467973' post='110321']

So the onion price rise was engineered to allow this FDI increase. Note how quickly it disappeared. it was to force the state govts to agree lest they become election victims of onion prices.

[/quote]

Congress had used this tool millions of time. Now a days, cardamom hoarding by India, which had increased world wide price, same is with lentils and rice. I think farmers will lose big time, first by infection in stored goods and slum in price. How long they can store stuff, when they don't have proper storage facilities. Farmers suicide is again orchestrated by state. Next we will see land grab by FDI retail. It is already happening in Harayana and Punjab.



Today's spot price

MCX Cardamom Future Price

SymbolUnitExpiry DatePrice

CARDAMOM1 KGS15 Feb, 2011 1515

CARDAMOM1 KGS15 Mar, 2011 1572

CARDAMOM1 KGS15 Apr, 2011 1603

CARDAMOM1 KGS14 May, 2011 1581.6

Kerala is the main producer of cardamom and contributes up to 60% in total production. During 2007, nearly 600 ton cardamom was produced, and this is expected to increase to 720 ton in 2008 due to good weather conditions. Plucking starts in July and August which continues till December. If weather remains unfavourable, plucking and production reduces. Arrival of good quality of 6 mm and 8 mm gets momentum during third and forth rounds of plucking.



Karnataka



Karnataka produces around 25% cardamom of total production. In 2007, nearly 250 ton cardamom was produced here. It is expected to increase to 300 ton during 2008. Karnataka quality is also known as Mansoor which is a low grade quality. Mainly masala manufacturers buy it as its rate remains low then other quality products. It is cultivated nearby place of Medikary.



Tamil Nadu



Ooty is the main producer of cardamom which contributes around 10-15% in total production. During 2008, around 150-200 ton cardamom is expected to produce here which is moderately up than last years’ production figure.

When production is so good, why price is going up?

In 2008 price was



Currently, world is under recession.



[url="http://economictimes.indiatimes.com/markets/commodities/cardamom-low-output-to-keep-prices-at-a-high-till-harvest/articleshow/6044669.cms"] Speculators ruling the market now [/url]



[url="http://www.commodityonline.com/news/Cardamom-price-surges-further-34903-3-1.html"]Cardamom price surges further[/url]

It is reported that the production in Guatemala in 2010 would be about 20,000 tonnes, which will be no way near their peak production of 30,000 tonnes in 2004/2005.



According to the latest estimates by the spices Board of India, India's production in 2010-11 is estimated to be almost at the same level of last year i.e. 10,350 tonnes.



It has been a phenomenal year for cardamom farmers as returns broke all previous records. Auction prices consistently remained above Rs 1,000 per kg after February, and the total volume in auctions crossed 10,000 tonne between the period of July 2009 and May 2010.



Arrivals are thinning out while demand, both from the international and domestic markets, continues to be good and robust, traders said.



Cardamom prices touched Rs 1,329.21 per kg during the week ended May 22 as against Rs 1,253.16 during the previous week.



Prices during the third week of April were at Rs 1,087.55 compared with Rs 609.35 in the corresponding period of the previous fiscal.