Cardamom up 0.7% on rising demand

Spice for delivery in September gained 0.5%

Cardamom prices edged higher by 0.71% to Rs 953 per kg in futures trading today as speculators engaged in creating positions amid rising demand in the spot market.

Besides, tight supplies in the physical market from producing belt further fuelled the uptrend.

At the Multi Commodity Exchange, cardamom for delivery in October rose by Rs 6.70, or 0.71%, to Rs 953 per kg in a business turnover of 22 lots.

Similarly, the spice for delivery in September gained Rs 5.30, or 0.55%, to Rs 962 per kg in 156 lots.

Market analysts said speculators enlarging positions on the back of rising demand in the spot markets kept cardamom prices higher at futures trade.