Cardamom up 0.7% on festive demand

Restricted arrivals influence prices

Cardamom prices rose by Rs 7.20 to Rs 1,003.90 per kg in futures trade today as traders enlarged positions, driven by pick up in spot demand ahead of festive season.

Tight stocks position following restricted arrivals in the spot market from producing regions influenced prices.

At the Multi Commodity Exchange, cardamom for delivery in October rose by Rs 7.20, or 0.72%, to Rs 1,003.90 per kg, with a business turnover of 431 lots.

November cardamom edged up by Rs 6, or 0.60%, to Rs 1,003.10 per kg, with a business turnover of 68 lots.

Marketmen attributed the rise in cardamom futures prices to strong domestic demand, driven by the festive season, amid restricted arrivals in the spot market.