Cardamom remains up on rising festive demand

Cardamom rose for the second straight day adding Rs 3.90 to Rs 906.60 per kg in futures trade today as speculators enlarged their positions, driven by rising festive demand.

Tight stocks availability in the physical market following less arrivals from producing region also supported the uptrend.

At the Multi Commodity Exchange, the November delivery added Rs 3.90, or 0.43%, to Rs 906.60 per kg, with a business turnover of 182 lots.

The December cardamom gained Rs 2, or 0.21%, to Rs 945 per kg in 10 lots.

Marketmen said speculators enlarged their positions, tracking a firm spot market trend on rising festive demand against tight supplies mainly kept cardamom prices up at futures market.