Cardamom futures up on rising demand

Cardamom extended gains for the second straight day by adding Rs 3.10 to Rs 1,088.20 per kg in futures trade today as speculators enlarged their positions, driven by a firming trend at spot markets on rising demand.

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

At the Multi Commodity Exchange, cardamom for delivery in May added Rs 3.10, or 0.29% to Rs 1,088.20 per kg, with a business turnover of a single lot.

The spice for delivery in June also edged up by Rs 2.80, or 0.25% to Rs 1,112.60 per kg, with an open interest of a single lot.

Market analysts said apart from increased demand, restricted arrivals in the physical markets led to the rise in cardamom futures prices.