Cardamom futures up over 1% on spot demand

Cardamom prices rose by 1.01 per cent to Rs 1,076.90 per kg in futures trade today as speculators enlarged their positions on the back of pick up in spot demand. 

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

At the Multi Commodity Exchange, cardamom for delivery in March rose by Rs 10.80, or 1.01 per cent, to Rs 1,076.90 per kg, with an open interest of a single lot.  

Likewise, the spice for delivery in April contract gained Rs 10.70, or 0.95 per cent, to Rs 1,131.50 per kg, with a business volume of just one lot.  

 

Traders said increased demand in the spot market due to the ongoing marriage season, mainly led to the rise in cardamom futures prices. 

They said tight stocks following restricted supplies from southern producing region also influenced the uptrend in prices.