Cardamom up on spot demand

Cardamom prices rose by Rs 10.20 to Rs 1,221.90 per kg in futures trade today, largely in tandem with a firming trend in spot markets on on the back of pick-up in demand amid restricted arrivals from producing regions.

On the Multi Commodity Exchange, the June delivery surged Rs 10.20, or 0.84%, to Rs 1,221.90 per kg in a business volume of 218 lots.

The May delivery gained by Rs 9.80 or 0.87% to Rs 1,133 per kg in a business volume of 973 lots.

Traders said pick-up in demand in the spot market against restricted arrivals from producing regions on expectations of a decline in production in current year, attributed to the rise in cardamom prices in the futures market.