Cardamom rises as demand picks up

Cardamom prices rose by Rs 8.40 to Rs 744.30 per kg in futures trade today as speculators enlarged their positions, driven by a firming trend at spot market on pick up in demand.

At the Multi Commodity Exchange, October cardamom rose by Rs 8.40, or 1.14% to Rs 744.30 The November contract edged up by Rs 5.70, or 0.72% to Rs 800.50 per kg in 104 lots.

Market analysts said increased buying by speculators on pick up in demand in the spot market mainly pushed up cardamom futures price.

Restricted arrivals from Southern producing region also supported the uptrend, they said.