Cardamom gains 0.77% as spot demand picks up

Expectations of lower production from major growing areas support uptrend

Cardamom prices moved up by 0.77 per cent to Rs 1,087.20 per kg in futures trade today as speculators indulged in creating fresh positions after pick up in demand in the spot market.

Expectations of lower production from the major growing areas also supported the uptrend.

At the Multi Commodity Exchange, cardamom for delivery in February rose Rs 8.30, or 0.77 per cent to Rs 1,087.20 per kg in business turnover of 507 lots.

The January contract gained Rs 3.20, or 0.32 per cent to Rs 992.10 per kg in 62 lots.

Market analysts said fresh positions built-up by speculators due to pick-up in demand in the spot market mainly led to the rise in cardamom prices at futures trade.