Cardamom futures rise over 3% on fresh spot demand

Cardamom futures prices rose by Rs 35.30 to Rs 992 per kg today on pick up in demand in the spot market for the marriage season.

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

At the Multi Commodity Exchange counter, cardamom for delivery in January rose by Rs 35.30, or 3.70 per cent to Rs 992 per kg, with a trading volume of 125 lots and December delivery surged by Rs 35.30, or 3.69 per cent to Rs 990 per kg, clocking a business turnover of 378 lots.

The spice for delivery in February gained by Rs 28.60, or three per cent to Rs 983.50 per kg, with a business turnover of 12 lots. 

Traders said pick up in demand in the spot market due to the ongoing marriage season, led to the rise in cardamom futures prices.

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