Cardamom gains by 1.2% on firm demand

Cardamom prices were up by 1.16% to Rs 848.80 per kg in futures trade today as speculators widened positions driven by firm demand in the spot market.

Further, tight stocks in the physical market following restricted arrivals from producing belts also supported the uptrend.

At the Multi Commodity Exchange, cardamom for November contracts was up by Rs 9.80, or 1.16%, to Rs 848.80 per kg, with a trading volume of 33 lots.

The spice for delivery in October was trading up by Rs 9.60, or 1.16%, to Rs 835 per kg, with a business volume of 215 lots.

Traders said pick-up in export and spot demand at domestic market against restricted arrivals from producing regions mainly influenced cardamom prices at futures market.