Cardamom futures rises 1.40% on spot demand

Cardamom prices rose by Rs 15.80 to Rs 1,141 per kg in futures trade today as speculators enlarged their positions, supported by pick up in spot demand due to the ongoing marriage season.

At the Multi Commodity Exchange, cardamom for delivery in May rose by Rs 15.80, or 1.40%, to Rs 1,141 per kg, with a business volume of 36 lots.

Cardamom futures prices for delivery in April moved up by Rs 14.70, or 1.33%, to Rs 1,114 per kg, clocking a business volume of 161 lots.

Likewise, the spice for delivery in June gained Rs 13.30, or 1.18%, to Rs 1,141.90 per kg, with an open interest of four lots.

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

Tight stocks following restricted arrival from the Southern producing region also influenced cardamom futures prices, they added.