Rising gold prices add to financial strain on Kambala events

Rising gold prices add to financial strain on Kambala events

Mangalore Today News Network

Mangaluru, Feb 4, 2026: The sharp rise in gold prices has now begun to directly impact Kambala, the traditional buffalo race that represents Tulu Nadu’s culture on the global stage. In recent days, gold prices have surged steeply, increasing the financial burden on Kambala events as well. With no signs of prices coming down and the possibility of further hikes, the cost of gold prizes has become a major concern for Kambala organisers.

Speaking on the issue, Aikala Bava Deviprasad Shetty, president of the Kambala committee, said, “Kambala and gold share an inseparable bond. Owners of Kambala buffaloes raise them like their own children, spending lakhs of rupees on their care. Their ultimate goal is to win a gold medal at a Kambala event. Therefore, no matter how difficult it becomes, awarding gold medals at Kambala competitions is our responsibility.”

He clarified that the long-standing tradition will continue, under which buffaloes securing first place in all Kambala race categories receive a one-pawan gold medal, while those finishing second are awarded a half-pawan gold medal. “Despite the rise in gold prices, we will make every effort to continue this tradition,” he said.

Appealing to the government, Shetty said, “An allocation of ₹5 crore should be earmarked for Kambala in the budget. Organising a single Kambala event costs between ₹40 lakh and ₹50 lakh, and now the burden of gold prices has added to the expenses.”

To ease the financial strain, the committee is considering bringing in mega sponsors on the lines of the IPL model. “Along with entrepreneurs from the coastal region, there are plans to rope in businesspersons from Bengaluru, Mumbai and Dubai as mega sponsors. Preparations are underway to implement this from next year itself,” he added.