Cardamom extends gains, up 1.79% on tight supply

Lower arrivals from producing regions add to surge in futures prices

Cardamom rose by Rs 22.40 to Rs 1,277 per kg, extending gains for third day in a row as speculators created fresh positions amid low stocks following restricted supplies.

On the Multi Commodity Exchange, cardamom for September delivery rose by Rs 22.40, or 1.79%, to Rs 1,277 per kg, with a business volume of 83 lots.

The August contract rose by Rs 14.40, or 1.07%, to Rs 1,360 per kg, with a business volume of 434 lots.

Traders said besides pick up in demand in the spot market, restricted arrivals from producing regions led to the rise in cardamom prices in the futures market.