Cardamom up 2.9% on strong demand

Spice for delivery in December gained 0.41%

Cardamom prices surged by 2.99% to Rs 718.80 per kg in futures trade today as speculators enlarged positions, driven by strong demand in the spot market amid limited arrivals from producing regions.

At the Multi Commodity Exchange, cardamom for delivery in November surged by Rs 20.80, or 2.99%, to Rs 718.80 per kg in business turnover of 33 lots.

Similarly, the spice for delivery in December gained Rs 3, or 0.41%, to Rs 735.10 per kg in 91 lots.

Analysts said speculators enlarged their positions on the back of strong demand in the spot market against limited arrivals from producing belts, which mainly pushed up cardamom prices at futures trade.