Cardamom up on firm demand

Traders increase positions, tracking pick up in demand amid slow down in arrivals from producing belts

Cardamom prices shot up by Rs 21.30 to Rs 1,281 per kg in futures trading today as traders increased their positions, tracking a pick up in the demand amid slow down in arrivals from producing belts.

At the Multi Commodity Exchange, the October contract for cardamom shot up by Rs 21.30, or 1.69%, to Rs 1,281 per kg in business turnover of 16 lots.

The August contract edged up by Rs 6.60, or 0.51%, to Rs 1,309.50 per kg in 149 lots.

Market analysts said increased buying by traders on the back of a rise in demand in the spot market against restricted arrivals from producing region mainly pushed up cardamom prices at futures trade.