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Crashed Futures: A Sociological Investigation into the Failure of Cardamom Futures Market

Crashed Futures: A Sociological Investigation into the Failure of Cardamom Futures Market | Tony Kurien | FAS YSOSS 2024-25 The third seminar of the FAS Young Scholars’ Online Seminar Series 2024-25 was presented by Tony Kurian, Assistant professor, Azim Premji University, Bangalore on Friday, October 25, 2024 at 4 PM IST. Tony’s study delves into the reasons behind the unsuccessful launch and subsequent closure of the cardamom futures market. Despite being a globally traded spice with moderate price volatility, cardamom failed to establish a viable futures market. The primary factors contributing to this outcome are examined, focusing on the unique characteristics of cardamom as a commodity and the political dynamics influencing its market. This study uses mixed research methodology and places itself in the interstices of political economy and economic sociology. The discussant for this session was Dr. Sumalatha B.S., Assistant Professor, Gulati Institute of Finance and Taxation (GIFT), Thiruvananthapuram, Kerala. The series is chaired by Barbara Harriss-White, Emeritus Professor of Development Studies, University of Oxford.