Cardamom up 0.4% on spot demand

Spice for delivery in March was trading up by 0.37%

Cardamom prices rose by 0.40% to Rs 724.90 per kg in futures trade today after speculators enlarged positions supported by good buying in the spot markets.

Sentiment improved further as a result of firm demand in the spot market against restricted arrivals from producing belts.

At the Multi Commodity Exchange, cardamom for February contracts rose by Rs 2.90, or 0.40%, to Rs 724.90 per kg, with a trading volume of 136 lots.

The spice for delivery in March was trading up by Rs 2.80, or 0.37%, to Rs 755 per kg, with a business volume of 44 lots.

Traders said rising export and spot demand against restricted arrivals from producing regions mainly influenced cardamom prices at futures market.