Cardamom futures extend gain 3% on surge in demand

Cardamom prices rose by another 3 per cent to Rs 1,043.50 per kg in futures market today as investors widened bets, tracking a firm trend at spot market on domestic as well as exports demand.
Besides, tight stocks position on fall in supplies from producing regions supported the upmove.
At the Multi Commodity Exchange, cardamom for delivery in current month advanced by Rs 30.30, or 3 per cent, to Rs 1,043.50 per kg, in a business turnover of just 11 lots.
Likewise, the spice for delivery in July rose by Rs 28, or 3 per cent, to Rs 961.80 per kg in 114 lots.

Analysts attributed the rise in cardamom prices in futures trade to raising of positions by participants, tracking a firm trend at the spot markets and pick up in export demand.