Cardamom recovers by 1.08% on spot demand

Cardamom futures recovered by Rs 6.30 to Rs 587 per kg in futures trade today on the back of a firming trend in the spot market amid rising domestic and export demand.

Tight stock availability following restricted supply from growing belts also supported the rise in prices of the commodity.

At the Multi Commodity Exchange, January cardamom rose by Rs 6.30, or 1.08%, to Rs 587 per kg, with a trading volume of 266 lots, while the spice of February delivery surged by Rs 6.20, or 1.02%, to Rs 613.50 per kg, with an open interest for 89 lots.

The March delivery in March gained Rs 4.40, or 0.44%, to Rs 636 per kg, with a trading volume of 51 lots.

Traders said a pick-up in the spot market to meet increased domestic and export demand mainly led to the rise in cardamom futures prices.