Cardamom futures up 3% on fresh spot demand
Cardamom futures prices rose by Rs 26.60 to Rs 911.70 per kg today on pick up in demand in the spot market due to the ongoing festive season.
Restricted arrivals from producing regions also supported the rise in prices.
At the Multi Commodity Exchange counter, cardamom for November-month contract rose by Rs 26.60, or 3.01 per cent, to Rs 911.70 per kg, with a trading volume of 184 lots, while December delivery surged by Rs 26.20, or 3 per cent, to Rs 900.70 per kg, with a business turnover of 81 lots.
The spice for delivery in January gained by Rs 26.10 or three per cent to Rs 895.80 per kg, clocking a trade volume of 13 lots.
Traders said pick up in demand in the spot market due to ongoing festive season, mainly attributed to the rise in cardamom futures prices.
They said restricted arrivals from southern region, too, supported the uptrend in prices.