Cardamom up by 4% spot demand

Cardamom prices spurted by Rs 31.50, or 4% to hit upper circuit limit at Rs 819.10 per kg in futures trade today as speculators created huge positions, triggered by a firm trend at spot market on strong demand.

 

Some exports enquiries and restricted arrivals from producing regions due to heavy rains also supported the upswing.

 

At the Multi Commodity Exchange, cardamom for delivery in August spurted by Rs 31.50, or 4% to Rs 819.10 per kg in business turnover of 6 lots.

 

Similarly, the spice for delivery in September contract shot up by Rs 18.50, or 1.08% to Rs 794 per kg in 399 lots.

 

Market analysts said speculators created huge positions on the back of strong domestic and export demand in the spot market amid lower arrivals from the producing regions due to heavy rains mainly attributed a rally cardamom prices to hit upper circuits at futures trade.