Cardamom up 3% on rising demand

Cardamom prices extended gains for the second straight day and rose by 3% to Rs 1,073.90 per kg in futures trading today on rising demand in the spot market.

At the Multi Commodity Exchange, the May contract for cardamom shot up by Rs 31.30, or 3%, to Rs 1,073.90 per kg, with a business turnover of 119 lots.

The March contract moved up by Rs 20.30, or 2.20%, to Rs 944.90 per kg, with an open interest of 1,785 lots.

Market analysts said besides rising demand in the spot market for the ongoing marriage season, limited arrivals from producing region mainly kept cardamom futures prices higher.