Cardamom futures up on fresh spot demand

Cardamom prices rose by Rs 9.40 to Rs 1,148.50 per kg in futures trade today largely on the back of pick-up in demand in the spot market against low stocks due to restricted arrivals from producing regions.

On the Multi Commodity Exchange, cardamom for delivery in May rose by Rs 9.40, or 0.82%, to Rs 1,148.50 per kg, with a business volume of 65 lots.

Cardamom for delivery in June increased by Rs 7.40, or 0.63%, to Rs 1,165 per kg, with a business volume of seven lots.

Likewise, the spice for delivery in April gained by Rs 1.90, or 0.17%, to Rs 1,101.90 per kg, with a business volume of 21 lots. 

Traders said rising demand in the spot market against restricted arrivals from producing regions, mainly led to the rise in cardamom prices at futures market.