Kochi, Nov 1 (IANS): The Spices Board on Monday turned hi-tech when it launched the cloud based live e-auction at Idukki.

Inaugurating it, Congress MP Dean Kuriakose said that the cardamom trade and exports play a significant role in the economy of the state and the cloud based live e-auction will empower the supply chain ensuring hassle free trade transactions benefitting the traders and farmers alike.

The live e-auction took place at the centre in Puttady, near Idukki.

The Spices Board digitally integrated two of its e-auction centres at Bodinayakanur, Tamil Nadu and Puttady, Idukki and is expanding the market opportunity for cardamom growers and traders equally.

The new facility will double the number of participants in the e-auction and the farmers will get to pitch their produce to a wider market place.

Earlier both farmers, traders and auctioneers had to travel between the auction facilities in Tamil Nadu and Kerala to take part in the auctions at the respective auction centres.

D. Sathiyan, secretary, Spices Board, said that by introducing this technologically advanced platform they aim to expand the opportunity for farmers and traders in terms of market and competition ensuring better price realization for cardamom.

"By the introduction of the new platform, there is scope to conduct the e-auction in multi centres, if the stakeholders desire," said Sathiyan.

A.G. Thankappan, chairman Spices Board said: "90 per cent of the cardamom produce is sold in the domestic market and cloud based e-auction will bring in a lot of competitiveness."