Cardamom futures surge 3% on spot demand

Cardamom futures prices surged by Rs 32.70 to Rs 1,124.10 per kg today, as speculators created fresh positions on pick up in spot market demand for the ongoing marriage season. 

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

At the Multi Commodity Exchange counter, cardamom for December delivery surged by Rs 32.70, or 3 per cent to Rs 1,124.10 per kg, with a business turnover of just one lot.

Similarly, the spice for delivery in January jumped up by Rs 32.40, or 3 per cent to Rs 1,111.10 per kg, with a business turnover of 17 lots.

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

They said restricted arrivals from the southern region, also influenced the uptrend.