Cardamom futures climb 3.28% on uptick in demand

At the MCX, cardamom for delivery in Nov rose by Rs 37.30 or 3.28% to Rs 1,174 per kg in a biz turnover of 323 lots

Cardamom prices on Thursday rose by Rs 37.30, or 3.28 per cent, to Rs 1,174 per kg in futures market as speculators created fresh positions, driven by uptick in demand in the spot market.

Furthermore, tight stocks position on restricted arrivals from producing regions and rising domestic as well as export demand in the spot market also fuelled the uptrend.

At the Multi Commodity Exchange, cardamom for delivery in November rose by Rs 37.30 or 3.28 per cent to Rs 1,174 per kg in a business turnover of 323 lots.

Similarly, spice for delivery in this month contract gained Rs 31.50 or 2.72 per cent to Rs 1,190 per kg in 36 lots.

Market analysts said besides the rise in demand in the spot market, tight supplies from producing regions mainly helped cardamom prices to trade higher in futures trade.