Cardamom up 3% on festive demand, tight supply

Cardamom futures prices rose by Rs 25.80 to Rs 886.90 per kg today after speculators on a firming trend in spot market on festive demand amid restricted supplies.

On the Multi Commodity Exchange, the December contract rose by Rs 25.80, or 3%, to Rs 886.90 per kg, with a trading volume of 850 lots.

The November contract traded higher by Rs 22.10, or 2.77%, at Rs 818.60 per kg, with a business volume of 1,428 lots.

Traders said rising demand in spot market on account of festive demand against restricted arrivals from producing regions mainly pushed up cardamom prices at futures market.