Cardamom rises 3% on strong demand

Cardamom prices rose sharply by Rs 28.60, or 3%, to Rs 981.30 per kg in futures trade today as speculators enlarged their positions on the back of strong demand in the spot market.

Tight supplies in the physical market following restricted arrivals from producing regions further fuelled uptrend in cardamom prices.

At the Multi Commodity Exchange, the April contract rose by Rs 28.60, or 3% to Rs 981.30 per kg in business turnover of 743 lots.

The March contract moved up by Rs 24.40, or 2.74%, to Rs 915.60 per kg in 2,932 lots.

Market analysts said increased buying by speculators on the back of strong demand in the spot market in view of the marriage season mainly pushed up cardamom prices at futures trade.