Cardamom futures rise 1.23% on fresh spot demand

Cardamom prices rose by Rs 12.80 to Rs 1,055 per kg in futures trade today as speculators enlarged their positions on hopes of a rise in demand at spot markets in the upcoming festival and marriage season.

Restricted arrivals from producing regions also supported the rise in prices. 

At the Multi Commodity Exchange counter, cardamom for November-month rose by Rs 12.80, or 1.23 per cent, to Rs 1,055 per kg, with a business volume of one lot.

Similarly, the spice for delivery in October-month gained by Rs 12.50, or 1.17 per cent to Rs 1080 per kg in single lot.

 

Traders said positions enlarged by speculators on expectations of pick up in demand in the spot market in the coming festival and marriage season, mainly attributed to the rise in cardamom prices at futures market.

They said, restricted arrivals from southern region too supported the uptrend in prices.