Bumthang cordyceps auction sees withdrawals over low bids

For many cordyceps collectors in Bumthang, the annual auction is a moment of hope after months of hard work in the mountains. But this year, many collectors walked away disappointed as bidding prices fell below their expectations. At the Choekhor Gewog Centre auction, several collectors chose to withdraw their harvest. After spending nearly two months in the high mountains searching for cordyceps, collectors from Choekhor Gewog returned with hopes of earning a good income from their harvest. But at the first cordyceps auction of the year in Bumthang, many felt the prices offered by buyers were not enough. Cordyceps remains a major source of income for the families here. However, the collectors are worried that declining prices are reducing the returns from months of difficult work in harsh mountain conditions. “I have withdrawn my cordyceps twice because the price did not meet my expectations. I have also filled out the IMOC (Internal Movement of Cordyceps) form to take my cordyceps to the auction in Sephu. If I cannot get a better price here before the auction starts in Sephu, I will take it there,” said Chorten Tashi, Seller, Choekhor Gewog, Bumthang. Under the auction rules, collectors can withdraw their cordyceps twice if they are not satisfied with the highest bid. They can later move their harvest to another auction yard after completing the required procedures. For some collectors, waiting for a better price is difficult because transporting the harvest to other auction centres involves additional costs. “We are allowed to withdraw our cordyceps, but we cannot participate in the auction again here. As farmers, we cannot afford to take it elsewhere. So, I am thinking of selling it after the auction if I get a better price. Otherwise, I have no other option than to take it to other auctions,” said Jamyang Chophel, Seller, Dhur, Choekhor Gewog, Bumthang. Meanwhile, buyers said they were unable to offer higher prices this year due to a decline in the international market value of cordyceps. Last year, the highest bid for A+++ grade cordyceps reached Nu 2.7 M per kilogram. This year, the highest price recorded at the Choekhor auction centre was slightly lower, at Nu 2.5 M per kilogram for A++ grade. Collectors from Choekhor Gewog harvested more than 40 kilograms of cordyceps this season. More than 500 collectors from Choekhor Gewog participated in the auction, along with a few from Khoma Gewog in Lhuentse. With the next auction scheduled at Sephu in Wangdue Phodrang beginning tomorrow, collectors are hoping for better prices and better returns for their harvest. Thinley Dorji, Bumthang Edited by Sonam Pem The post Bumthang cordyceps auction sees withdrawals over low bids appeared first on BBSCL.