Cardamom futures surge 3% on strong demand

Cardamom futures prices today surged 3% to Rs 1,157.10 per kg as speculators enlarged their positions, driven by a firming trend at spot market on strong demand.

Also, restricted arrivals in the spot markets from producing regions further fueled the upside in cardamom prices.

At the MCX cardamom for delivery in May month spurted by Rs 33.70, or 3% to Rs 1,157.10 per kg in business turnover of 156 lots.

In a similar fashion, the June contract shot up by 34.30, or 3% to Rs 1,177.50 per kg in 66 lots.

Traders said apart from firming trend at spot market on the back of strong demand in the spot market due to marriage season, restricted arrivals from Southern producing region mainly pushed up cardamom prices at futures trade.