Cardamom up 2% on upsurge in demand

Spice for delivery in May gained 1.9%

Cardamom prices rose over 2% to Rs 882.70 per kg in futures trade today after speculators created fresh positions, tracking a firm trend at spot market on upsurge in demand.

At the Multi Commodity Exchange, cardamom for delivery in April shot up by Rs 18.50, or 2.14% to Rs 882.70 per kg in business turnover of 563 lots.

Similarly, the spice for delivery in May gained Rs 16.90, or 1.91% to Rs 902.70 per kg in 308 lots.

Analysts said fresh positions built-up by speculators following upsurge in demand in the spot market against tight supplies from growing region pushed up cardamom prices at futures trade.