Cardamom futures surge on strong demand

Cardamom prices surged by Rs 33.80 to Rs 1,442.80 per kg in futures trading today as speculators enlarged their positions, supported by strong demand in the spot market. 

Restricted arrivals from producing regions further fuelled the uptrend in cardamom prices.

At the Multi Commodity Exchange counter, cardamom for delivery in March surged by Rs 33.80, or 2.40 per cent, to Rs 1,442.80 per kg, with an open interest of just one lot.     

Similarly, the spice for delivery in April shot up by Rs 30.30, or 2.23 per cent, to Rs 1,391 per kg, with a business turnover of just one lot.

Traders said strong demand in the spot market due to ongoing marriage season, amid restricted arrivals from southern region led to upsurge in cardamom futures prices.