Cardamom futures recover on spot demand

Cardamom prices rose by Rs 9.90 to Rs 1,124.90 per kg in futures trade today as speculators enlarged their positions, supported by pick-up in spot demand.

Tight arrivals from the producing regions further influenced cardamom futures prices.

At the Multi Commodity Exchange, cardamom for delivery in May recovered by Rs 9.90, or 0.89% to Rs 1,124.90 per kg, with a business turnover of three lots.

Similarly, the spices for delivery in April moved up by Rs 5.90, or 0.53%, to Rs 1,111 per kg, with an open interest of a single lot.

Traders said pick-up in demand in the spot market against restricted arrivals from producing belts led to the recovery in cardamom futures prices.