Cardamom rises as demand picks up

Cardamom prices rose by Rs 6.50 to Rs 814.30 per kg in futures trade today as speculators created fresh positions, driven by pick-up in the spot market demand.

Restricted arrivals from producing regions further fuelled the uptrend.

At the Multi Commodity Exchange, cardamom for delivery in September rose by Rs 6.50, or 0.8%, to Rs 814.30 per kg, with a business turnover in 288 lots.

The August contract gained Rs 2.80, or 0.37%, to Rs 766.70 per kg, with a business turnover in 131 lots.

Market analysts said fresh buying by speculators, driven by pick-up in spot market demand, mainly led to the rise in cardamom futures prices.