Cardamom rises 1.06% on spot demand

Cardamom futures prices rose by Rs 12 to Rs 1,139.30 per kg today as traders raised their positions on pick-up in spot market demand for the commodity amid low stocks.

Restricted arrivals from major growing belts amid speculations of a decline in production in the current year also influenced cardamom prices at futures trade here.

On the MCX, cardamom for May delivery rose by Rs 12, or 1.06%, to Rs 1,139.30 per kg, with a business volume of 842 lots.

The spice for June delivery rose by Rs 12.30, or 1.03%, to Rs 1,203 per kg, with a business volume of 172 lots.

Traders said pick-up in demand in the spot market against restricted arrivals from producing regions attributed the rise in cardamom prices in the futures market.