Cardamom up 1.1% on rising spot demand

Spice for delivery in March gained 0.9%

Cardamom prices gained 1.14% to Rs 796 per kg in futures trade today as speculators indulged in creating positions on an upsurge in spot market demand.

Further, tight stocks availability in the physical market on restricted arrivals from producing region also supported the uptrend.

At the Multi Commodity Exchange, cardamom for delivery in April rose by Rs 9, or 1.14%, to Rs 796 per kg in business turnover of 135 lots.

Similarly, the spice for delivery in March gained Rs 6.80, or 0.90%, to Rs 764.20 per kg in 375 lots.

Analysts said fresh positions created by speculators on upsurge in demand the spot market amid restricted arrival from producing region mainly led to rise in cardamom prices at futures trade.