Cardamom gains 1.4% on spot demand

Cardamom prices rose by Rs 14.40 to Rs 1,028.90 per kg in futures trade today as speculators created fresh positions, tracking a firming spot market trend on pick-up in demand.

Less arrivals from producing region also supported the uptrend in cardamom futures.

At the Multi Commodity Exchange, cardamom for delivery in April rose by Rs 14.40, or 1.42%, to Rs 1,028.90 per kg, with a business turnover of 399 lots.

March cardamom gained Rs 5.10, or 0.53%, to Rs 968 per kg, with a business turnover of 687 lots.

Market analysts said fresh buying by speculators on the back of pick-up in spot market demand mainly led to rise in cardamom prices at futures trade.