Cardamom futures rise 1.71% on firm spot demand

Cardamom prices rose by Rs 18.20, or 1.71 per cent, to Rs 1,080 per kg in futures trading today, as speculators enlarged their positions, driven by strong demand in spot markets.

Restricted arrivals in the physical markets further fuelled the uptrend.

 At the Multi Commodity Exchange platform, cardamom for October-month rose Rs 18.20, or 1.71 per cent, to Rs 1,080 per kg, with a trading volume of one lot.

The spices for delivery in November-month also traded higher by Rs 17.30, or 1.64 per cent, to Rs 1,069 per kg, with an open interest of just one lot.

Traders said strong demand in the spot market due to festive and marriage season, attributed to the rise in cardamom prices at futures market.