Cardamom moves up in futures trade on spot demand

Cardamom prices moved up by Rs 11.20 to Rs 858.40 per kg in futures trading today as participants created fresh positions, driven by pick-up in spot market demand.

Besides, restricted arrivals from the producing regions also supported the uptrend.

At the Multi Commodity Exchange, cardamom for September delivery moved up by Rs 11.20, or 1.32%, to Rs 858.40 per kg, with a business turnover of 101 lots.

Similarly, the spice for August delivery gained Rs 7.10, or 0.87%, to Rs 819 per kg, with an open interest of 141 lots.

Analysts said fresh positions created by speculators, supported by pick-up in spot markets demand, mainly led to the rise in cardamom futures prices.