Cardamom rises 0.93% on festive demand

Restricted arrivals influence prices

Cardamom futures prices today rose by Rs 8.60 to Rs 935.80 per kg as traders created fresh positions, driven by pick up in domestic demand ahead of the festive season.

Restricted arrivals from producing belts supported the uptrend.

At the Multi Commodity Exchange, cardamom for delivery in November rose by Rs 8.60, or 0.93%, to Rs 935.80 per kg in business turnover of 546 lots.

October cardamom moved up by Rs 3.30, or 0.37%, to Rs 905 per kg in 101 lots.

Market analysts said fresh positions created by traders on hopes a rise in demand during the ensuing festive season amid restricted arrivals from producing belts led to rise in cardamom futures.