Cardamom up 0.7% on rising demand

Rising for the third straight day, cardamom advanced by 0.69% to Rs 927.90 per kg in futures trading today as speculators enlarged positions, tracking a firming trend at spot market.

At the Multi Commodity Exchange, cardamom for delivery in October gained Rs 6.40, or 0.69%, to Rs 927.90 per kg in business turnover of 72 lots.

Similarly, the spice for delivery in September traded higher by Rs 5.50, or 0.58%, to Rs 948.10 per kg in 75 lots.

Market analysts said sustained rise in cardamom prices at futures trade is due to strong demand in the spot markets against restricted arrivals from producing belts.