Cardamom maintains upward trend on firm spot demand

Cardamom gained by Rs 54.50 or 3 per cent to Rs 1,870.50 per kg in futures trading today on continued buying by speculators, supported by a strong domestic as well as exports demand.

Tight stocks position at physical markets due to restricted supplies from the producing belts also influenced the cardamom prices at futures market here.

At the Multi Commodity Exchange counter, cardamom for June contract surged by Rs 54.50, or 3 per cent to Rs 1,870.50 per kg, with an open interest of 1,059 lots.

Similarly, the spice for delivery in July contract moved up Rs 14.30, or 0.75 per cent to Rs 1,922.70 per kg, with a business turnover of 2,325 lots.

Market analysts attributed the continued rise in cardamom futures prices to a strong demand in physical markets amid low stocks.