Cardamom higher 2.91% on strong spot demand

Cardamom prices rose by Rs 29.80, or 2.91 per cent, to Rs 1,052 per kg in futures trade today on strong demand in spot markets amid low stocks.

Lower arrivals in the physical markets further assisted the gain in prices.

At the Multi Commodity Exchange counter, cardamom for November contract rose by Rs 29.80, or 2.91 per cent, to Rs 1,052 per kg, with a trading volume of 52 lots.

Cardamom for October contract surged by Rs 20.60, or 1.95 per cent, to Rs 1,072.90 per kg, with a turnover of 122 lots, while December delivery rose Rs 14, or 1.39 per cent, to Rs 1,020 per kg, with an open interest of eight lots.

 

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

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