Cardamom up 2.7% on strong demand

Cardamom for delivery in July contract gained 2.24%

Cardamom prices surged by 2.74% to Rs 817.80 per kg in futures trade today as speculators enlarged their positions, driven by rising demand in the spot market against restricted arrivals from producing belts.

At the Multi Commodity Exchange, cardamom for delivery in August month surged by Rs 21.80, or 2.74% to Rs 1,817.80 per kg in business turnover of 217 lots.

Similarly, cardamom for delivery in July contract gained Rs 17.40, or 2.24% to Rs 795 per kg in 846 lots.

Analysts said speculators enlarged their positions, driven by rising demand in the spot market against limited arrivals from producing belts mainly pushed up cardamom prices at futures trade.

Some export enquiries also supported the uptrend, they said.