Cardamom futures up on spot demand

Cardamom prices rose by Rs 11 to Rs 1,016 per kg in futures trading today, as speculators enlarged their positions, supported by a rise in demand at spot markets ahead of festival and marriage season.

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

At the Multi Commodity Exchange counter, cardamom for November-month rose by Rs 11, or 1.00 per cent, to Rs 1,016 per kg, with a business turnover of one lot.

Similarly, the spice for delivery in October traded higher by Rs 10, or 0.90 per cent, to Rs 1,035 per kg, with an open interest of just one lot.

 

Traders said positions enlarged by speculators on expectations of rise in demand at spot markets attributed to the rise in cardamom prices at futures trade. 

They said restricted arrivals from Southern region too supported the uptrend in prices.