Cardamom surges 3% on strong demand

Limited stocks fuel the uptrend

Cardamom prices surged 3% to Rs 1,446.30 per kg in futures trade today as traders increased their positions, tracking a firm spot market trend on strong demand against limited stocks.

Paucity of stocks in the physical market following less arrivals from producing belts fuelled the uptrend.

At the Multi Commodity Exchange, cardamom for delivery in August rose by Rs 42.10, or 3%, to Rs 1,445.30 per kg, with a business turnover of 224 lots.

September cardamom shot up by Rs 26.30, or 1.95%, to Rs 1,372 per kg in 116 lots.

Market analysts said increased buying by traders, tracking a firm trend at the spot markets on the back of strong demand pushed up cardamom futures.