Cardamom futures climb 3.88% on higher demand

Cardamom prices rose further by 3.88 per cent to Rs 1,395 per kg in futures trade today on frantic buying by stockists and retailers due to increased demand from domestic and export markets.

Furthermore, fall in arrivals from Kerala due to floods in several districts including largest cardamom growing-Idukki also added to the upside.

At the Multi Commodity Exchange, cardamom for delivery in October was trading higher by Rs 52.10, or 3.88 per cent, at Rs 1,395 per kg in a business turnover of 48 lots.

The current month's contract of the spice was trading higher by Rs 40.50, or 3 per cent, to Rs 1,390.50 per kg with trading volume of 16 lots.

Analysts said speculative positions built up by traders on the back of pick-up in export and domestic demand against restricted arrivals from Kerala due to floods in several districts including largest cardamom growing-Idukki, pushed up cardamom prices.