Cardamom rises 2.84% on spot demand

Speculators create fresh positions on restricted arrivals from producing regions

Cardamom prices rose sharply by 2.84 per cent to Rs 915 per kg in futures trade today as speculators created fresh positions amid pick-up in spot demand against restricted arrivals from producing regions.

At the Multi Commodity Exchange, cardamom for delivery in November gained Rs 25.30, or 2.84 per cent, to Rs 915 per kg in a business turnover of 331 lots.

The December contract edged up by Rs 21.10, or 2.39 per cent, to Rs 902 per kg in 367 lots.

Analysts said speculative positions built up by participants, supported by pick up in demand in the spot market against restricted arrivals from producing belts, mainly helped cardamom prices to gain in futures trade.