Cardamom rises on fresh spot demand

Cardamom prices rose by Rs 18.20, to Rs 1,144.90 per kg in futures trade today mainly on the back of pick up in demand in the spot market amid low stocks.

Restricted arrivals from producing regions also supported the rise in prices.

On the Multi Commodity Exchange cardamom for the month of May surged by Rs 18.20 or 1.61 per cent to Rs 1,144.90 per kg in a business volume of 121 lots, while April month delivery rose by Rs 14.70 or 1.35 per cent to Rs 1,102.10 per kg in a business volume of 85 lots.

The spice of June month contract gained by Rs 12.70 or 1.10 per cent to Rs 1,158 per kg in a business volume of 13 lots.

 

Traders said pick up in demand in the spot market against restricted arrivals from producing regions attributed to the rise in cardamom prices in the futures market.