Cardamom futures climb 2.67 pc on uptick in demand

Cardamom prices today rose by Rs 31.40, or 2.67 per cent, to Rs 1,207.40 per kg in futures market as speculators created fresh positions, driven by uptick in demand in the spot market.

Furthermore, tight stocks position on restricted arrivals from producing regions and rising domestic as well as export demand in the spot market and sharp fall in output during the current season too fuelled the uptrend.

At the Multi Commodity Exchange, cardamom for delivery in December was up by Rs 31.40 or 2.67 per cent to Rs 1,207.40 per kg in a business turnover of 100 lots.

Similarly, spice for delivery in November gained Rs 25.50 or 2.17 per cent to Rs 1,200 per kg in 278 lots.
 

Market analysts said besides rising demand in the spot market, tight supplies from producing regions mainly helped cardamom prices to trade higher in futures trade.