Cardamom up 4% as spot demand picks up

Spice for delivery in April gained 0.72%

Supported by rising demand at spot markets, cardamom prices rose sharply by 4.26% to Rs 1,115 per kg in futures trading today as speculators created positions.

Further, restricted arrivals from producing regions also supported the uptrend.

At the Multi Commodity Exchange, cardamom for delivery in March climbed Rs 45.60, or 4.26% to Rs 1,115 per kg in business turnover of 245 lots.

Similarly, the spice for delivery in April gained Rs 7.60, or 0.72% to Rs 1,049 per kg in 301 lots.

Analysts said fresh positions built up by speculators on the back of rise in demand in the spot market against restricted arrivals from growing regions, mainly influenced cardamom prices at futures trade.