Cardamom up 0.5% on upsurge in demand

Spice for delivery in December gained 0.35%

Cardamom rose for the third straight day by adding 0.53% to Rs 774 per kg in futures market today as speculators engaged in enlarged their holdings on upsurge in demand in the spot market.

At the Multi Commodity Exchange, cardamom for delivery in January rose further by Rs 4.10, or 0.53%, to Rs 774 per kg in a business turnover of 34 lots.

Similarly, the spice for delivery in December gained Rs 2.60, or 0.35%, to Rs 742.60 per kg in 155 lots.

Analysts attributed the rise in cardamom futures to upsurge in demand in the spot market amid lower arrivals from producing regions.