Cardamom up 2.2% on spot demand

Reduced supplies influence prices

Cardamom prices edged higher by Rs 18.50, or 2.21%, to Rs 854.90 per kg in futures trade today largely on the back of a firming trend in the spot market, driven by strong domestic and export demand.

Reduced supplies from the growing belts influenced prices of the commodity.

At the Multi Commodity Exchange counter, cardamom for November rose by Rs 18.50, or 2.21%, to Rs 854.90 per kg, with a trading volume of 653 lots.

December cardamom gained by Rs 18.60, or 2.07%, to Rs 914 per kg, with a business volume of 105 lots.

Traders said pick up in domestic and export demand in the spot market for the festive season led to the rise in cardamom futures prices.