Cardamom gains 0.99% on strong demand

Cardamom prices rose by Rs 9.60 to Rs 976.00 per kg in futures market today, as speculators enlarged their positions, buoyed by strong demand in spot markets in view of festive season.

Restricted arrivals in the spot markets also influenced the cardamom prices at futures trade.

At the Multi Commodity Exchange platform, cardamom for December-month delivery rose Rs 9.60, or 0.99 per cent, to Rs 976.00 per kg, with a turnover of one lot.

Cardamom for November-month also edged up by Rs 5.30, or 0.54 per cent, to Rs 987.10 per kg, with an open interest of just one lot.

 

Traders attributed the rising demand in the spot market to the ongoing festive and marriage season, and rise in cardamom prices at futures market.