Cardamom surges 4% on strong demand

Cardamom prices surged by Rs 42.30 to Rs 1,098.60 per kg in futures trade today as speculators created fresh positions, tracking a firm spot market trend.

Less arrivals from producing regions also supported the uptrend in cardamom futures.

At the Multi Commodity Exchange, May cardamom shot up by Rs 42.30, or 4%, to Rs 1,098.60 per kg, with a business turnover of 626 lots.

The April delivery gained Rs 39.50, or 4%, to Rs 1,048.50 per kg, with a trading volume of 2,091 lots.

The March spice jumped up by Rs 27.50, or 3%, to Rs 933.50 per kg, with an open interest of 1,792 lots.

Traders said strong demand in the spot market, supported by the ongoing marriage season, in tandem with less arrivals from producing region mainly led to an upsurge in cardamom futures prices.