Cardamom spurts 3% on domestic, export demand

Cardamom prices spurted by Rs 29.10 to Rs 999 per kg in futures trading today as speculators enlarged their positions, driven by strong domestic as well as export demand.

Tight stocks position in the physical market following less arrivals from producing belts further fuelled the uptrend.

At the Multi Commodity Exchange, the January contract spurted by Rs 29.10, or 3%, to Rs 999 per kg in business turnover of 440 lots.

The December contract shot up by Rs 27.20, or 3%, to Rs 934.40 per kg in 1,351 lots.

Market analysts said positions created by speculators, driven by strong domestic as well as export demand in the spot market and restricted arrivals from producing belts mainly pushed up cardamom prices at futures market.