Cardamom rises 1.7% on spot demand
Traders said pick up of demand in the spot market against restricted arrivals from producing regions led to the rise in cardamom prices in the futures market
Cardamom prices rose by Rs 19.70, to Rs 1,146.50 per kg in futures trade today after speculators increased positions amid demand pick up in the spot market amid low stocks.
Restricted arrivals from producing regions also supported the rise in prices.
On the Multi Commodity Exchange, the May delivery surged by Rs 19.70 or 1.74% to Rs 1,146.50 per kg in a business volume of 755 lots.
The April contract rose by Rs 15.10 or 1.57% to Rs 971 per kg in a business volume of 14 lots.
Traders said pick up of demand in the spot market against restricted arrivals from producing regions led to the rise in cardamom prices in the futures market.