Cardamom up by 3% on strong demand

Supported by strong domestic and export demand, cardamom prices climbed 3% to Rs 780.10 per kg in futures trade today as speculators created fresh positions.

 

Further, tight supplies from producing regions due to heavy rains also influenced prices.

 

At the Multi Commodity Exchange, cardamom for delivery in August month spurted by Rs 22.70, or 3% to Rs 780.10 per kg in business turnover of 9 lots.

 

Likewise, the spice for delivery in September contract traded higher by Rs 10.20, or 1.19% to Rs 803 per kg in 560 lots.

 

Traders said besides strong domestic and export demand in the spot market, tight supplies from producing regions mainly attributed rise in cardamom prices at futures trade.