Cardamom surges 3% on strong demand

Cardamom futures rose Rs 33.10, or 3% to Rs 1,137.90 per kg in futures trade today as speculators enlarged positions, driven by reports of adverse weather conditions in major growing regions.

In addition, strong domestic and export demand also supported the upside in cardamom prices.

At the Multi Commodity Exchange, cardamom for delivery in May surged by Rs 33.10, or 3%, to Rs 1,137.90 per kg, with a business turnover of 370 lots.

For April delivery, the prices rose by Rs 25.60, or 2.44%, to Rs 1,073 per kg, with a trading volume of 1,531 lots.

Similarly, the spice for delivery in March rose by Rs 5.85, or 0.62%, to Rs 927 per kg, with a trading volume of 76 lots.

Traders said that besides adverse weather conditions affecting the crop, strong domestic and export demand also influenced cardamom prices at futures trade.