Cardamom futures up on strong demand

Cardamom prices rose by Rs 14.30 to Rs 744.60 per kg in futures trade today, as speculators created fresh positions, driven by pick-up in demand in the spot market due to marriage season.

Restricted arrivals from producing region also supported the uptrend.

At the Multi Commodity Exchange, cardamom for delivery in May rose by Rs 14.30, or 1.68%, to Rs 744.60 per kg in business turnover of 34 lots.

Likewise, the spice for delivery in February moved up by Rs 7.80, or 1.18%, to Rs 666.20 per kg in 2,429 lots.

Market analysts said fresh buying by speculators and firming trend at spot market on pick up in demand mainly led to rise in cardamom prices to trade higher at futures market.