Spot demand lifts cardamom futures by 0.53%

Cardamom futures were up 0.53 per cent to Rs 719.90 per kg in futures trade today as participants created fresh positions, driven by pick up in demand in the spot market.
At the Multi Commodity Exchange, cardamom for delivery in February month moved up by Rs 3.80, or 0.53 per cent to Rs 719.90 per kg in business turnover of 52 lots.
However, the spice for delivery in March contracts held steady at Rs 740 per kg in 69 lots.
Analysts said fresh positions built up by traders on the back of pick up in demand in the spot market against restricted supplies from producing belts, led to the rise in cardamom prices at futures trade.