Cardamom futures up on seasonal demand

Cardamom futures prices rose further by Rs 3 to Rs 695.50 per kg today, mostly in tandem with a firm spot demand for the marriage season.

Tight stocks in the physical market on account of the reduced arrivals from the growing belts.

On the Multi Commodity Exchange, cardamom for December contract rose by Rs 3, or 0.43%, to Rs 695.50 per kg, with a trading volume of 110 lots.

The January contract traded higher by Rs 2.40, or 0.33%, at Rs 729.50 per kg, with a business volume of 25 lots, while November contract also moved up by Rs 2.30, or 0.35%, to Rs 652.90 per kg, with a business turnover of 248 lots.

Traders said rising demand in spot market on account of marriage and seasonal demand against restricted arrivals from southern producing regions mainly pushed up cardamom prices at futures market.