Cardamom remains up on firm spot demand

Cardamom prices strengthened by Rs 11.10 to trade to Rs 1,014.10 per kg in futures market today, as speculators enlarged their positions, buoyed by a rising demand at spot markets in view of festive season.

Less arrivals from producing regions also supported the rise in prices.

At the Multi Commodity Exchange counter, cardamom for October-month strengthened by Rs 11.10, or 1.11 per cent to Rs 1,014.10 per kg, with an open interest of just one lot.

In a similar fashion, the spice for delivery in November gained Rs 4.30, or 0.43 per cent, to Rs 1,012 per kg, with a business turnover of two lots.

 

Analysts said firming trend at the spot markets on strong demand in view of festive season mainly attributed to the rise in cardamom prices at futures trade.

Besides, restricted arrivals from producing region too supported the uptrend in prices.