Cardamom climbs by 2.4% on strong spot demand

Fresh positions built-up by speculators after upsurge in domestic and export demand pushed up prices

Cardamom prices climbed 2.38% to 774.50 per kg in futures trading today after speculators created huge positions, supported strong domestic as well as export demand.

At the Multi Commodity Exchange, cardamom for delivery in February shot up by Rs 18.00, or 2.38% to Rs 774.50 per kg in business turnover of 425 lots.

Similarly, the spice for delivery in March gained Rs 18.70, or 2.38% to Rs 804.30 per kg in 369 lots.

Analysts said fresh positions built-up by speculators after upsurge in domestic and export demand in the spot market mainly pushed up cardamom prices at futures trade.