Cardamom firms up 0.64% on higher demand

Tight stock position in physical market on restricted arrivals from producing regions supports uptrend

Cardamom futures rose 0.64 per cent to Rs 794.90 per kg in futures market today as participants built up fresh positions after demand picked up in the spot market.

Besides, tight stock position in the physical market following restricted arrivals from producing regions supported the uptrend.

At Multi Commodity Exchange, cardamom for delivery in July rose Rs 5.10, or 0.64 per cent, to Rs 794.90 per kg in business turnover of 294 lots.

The June contract edged up Rs 1.60, or 0.20 per cent, to Rs 801 per kg in 128 lots.

Analysts said fresh positions built up by speculators on the back of demand surge in the spot market against tight supplies from producing belts influenced cardamom prices in futures trade.