Cardamom surges by 4% on strong demand, tight supply

Fresh positions created by speculators following strong demand influenced prices

Cardamom prices surged by 3.97% to Rs 755.80 per kg in futures trade today as speculators enlarged positions, driven by strong demand in the spot market.

 

Tight supplies in the physical market due to less arrivals from producing regions further fuelled the uptrend.

 

At the Multi Commodity Exchange, cardamom for delivery in September climbed by Rs 48.90, or 3.97% to Rs 755.80 per kg in business turnover of 186 lots.

 

Similarly, the spice for delivery in October shot up by Rs 11.30, or 1.40% to Rs 819.70 per kg in 693 lots.

 

Market analysts said fresh positions created by speculators following strong demand in the spot market mainly attributed gains in cardamom prices at futures trade.