Cardamom futures rise 1.72% on pick up in spot demand

Cardamom prices today rose by Rs 20.80 or 1.72 per cent to Rs 1,231 per kg in futures market after speculators widened their positions supported by rising demand in the spot market.
Further, restricted supplies from producing regions and rising domestic as well as export demand in the spot market also fuelled the uptrend.
At the Multi Commodity Exchange, cardamom for delivery in October rose by Rs 20.80 or 1.72 per cent to Rs 1,231 per kg in a business turnover of 219 lots.
Similarly, spice for delivery in November gained Rs 18.70 or 1.53 per cent to Rs 1,242 per kg in 16 lots.

Market analysts said besides rise in demand in the spot market, tight supplies from producing regions mainly helped cardamom prices to trade higher in futures trade.