Cardamom rises on firm spot demand

Cardamom prices rose by Rs 10.20 to Rs 886 per kg in futures trade today as speculators created fresh positions on the back of a pick-up in spot market demand against restricted arrivals from producing regions.

At the Multi Commodity Exchange, cardamom for far-month September rose by Rs 10.20, or 1.16%, to Rs 886 per kg with an open interest in 13 lots.

Likewise, the spice for June contract delivery gained Rs 5.40, or 0.64%, to Rs 852.90 per kg in 208 lots.

Traders said a pick-up in the spot market demand against restricted arrivals from producing regions amid the ongoing marriage season mainly led to the rise in cardamom prices in the futures market.