Cardamom up by 0.81% on strong demand

Cardamom prices rose by Rs 8.40 to Rs 1,037 per kg in futures trade today, on increased buying by speculators, buoyed by strong demand in the spot markets.

Tight stocks in the spot markets also influenced cardamom prices at futures trade.

At the Multi Commodity Exchange, cardamom for November month contract gained Rs 8.40 or 0.81 per cent to Rs 1,037 per kg in trading volume of 51 lots.

Cardamom for October month contract surged by Rs 5 or 0.47 per cent to Rs 1,057 per kg, with a turnover of 64 lots.

Traders attributed pick up in demand in the spot market, triggered by ongoing festive and marriage season, to the rise in cardamom prices at futures market.