Cardamom futures gain 1.75% on strong demand

Cardamom prices rose 1.75 per cent to Rs 1,359 per kg in futures trade today as participants raised their bets amid pick up in demand in the spot market against tight stocks position.

At the Multi Commodity Exchange, cardamom for delivery in September shot up by Rs 23.40, or 1.75 per cent, to Rs 1,359 per kg in a business turnover of 13 lots.

Analysts said widening of positions by traders on the back of soaring demand in spot market against tight stocks position on fall in arrivals from growing regions, pushed up cardamom prices in futures trade.