Cardamom surges over 3% on strong demand

Cardamom prices surged by Rs 24.20 to Rs 817 per kg in futures trade today as speculators enlarged their positions supported by a firming trend at the spot markets on strong demand on account of marriage season.

Restricted arrivals from producing region further fuelled the upsurge in cardamom prices.

At the Multi Commodity Exchange, cardamom for delivery in March shot up by Rs 24.20, or 3.05%, to Rs 817 per kg, with a business turnover of 3,588 lots.

The February contract moved up by Rs 13.80, or 1.85%, to Rs 758 per kg in 727 lots.

Market analysts said besides strong demand in the spot market for the marriage season, restricted arrivals from producing regions also pushed up cardamom prices at futures trade.