Cardamom recovers 0.95% on spot demand

Tight supplies fuel uptrend

Cardamom prices rose by 0.95% to Rs 900 per kg in futures trade today as speculators created fresh positions, tracking a firm spot market trend on pick up in spot markets demand.

Tight supplies in the physical market following limited arrivals from producing belts and some export enquiries fuelled the uptrend in cardamom futures.

At the Multi Commodity Exchange, cardamom for delivery in December recovered by Rs 8.50, or 0.95%, to Rs 900 per kg, with a business turnover of 68 lots.

November cardamom traded higher by Rs 2.40, or 0.29%, to Rs 824.30 per kg in 266 lots.

Marketmen attributed the rise in cardamom futures to pick up in demand in the spot market due to festive season and less arrivals from producing belts.