Cardamom futures up on rising demand

Cardamom futures rose by Rs 7.70 to Rs 653.40 per kg today, as speculators created fresh positions, driven by pick-up in spot demand.

Restricted arrivals from producing region in the physical market also supported the uptrend.

At the Multi Commodity Exchange, February cardamom rose by Rs 7.70, or 1.19%, to Rs 653.40 per kg, with a business turnover of 449 lots.

The January delivery in January gained Rs 6.10, or 0.98%, to Rs 626 per kg, with a business volume of 1,591 lots.

Traders said apart from firming trend at spot market on pick-up in demand, restricted arrivals from producing regions also pushed up cardamom prices in futures trade.