Cardamom futures climb 2.12% on upsurge in demand

Amid pick-up in demand at the domestic spot market against restricted supplies from producing belts, cardamom prices shot up by 2.12 per cent to Rs 1,178 per kg in futures trade today as participants built up fresh positions. At the Multi Commodity Exchange, cardamom for delivery in March shot up by Rs 24,40, or 2.12 per cent, to Rs 1,178 per kg in business turnover of 28 lots. Likewise, the spice for delivery in April contracts was trading higher by Rs 14.50, or 1.24 per cent, at Rs 1,181 per kg in 4 lots. Analysts said fresh positions created by traders due to uptick in demand at the spot market against restricted arrivals from producing regions pushed up cardamom prices in futures trade.