Cardamom up 0.6% on good spot demand

Cardamom prices advanced by 0.59% to Rs 755 per kg in futures trade today as traders engaged in enlarging their positions, triggered by rising demand in the spot market against tight stocks position.

At the Multi Commodity Exchange, cardamom for delivery in far-month March rose by Rs 4.40, or 0.59%, to Rs 755 per kg, in a business turnover of five lots.

Likewise, the spice for delivery in February gained Rs 2.30, or 0.31%, to Rs 748.20 per kg in 80 lots.

Market analysts said apart from strong demand in the spot markets, tight stocks position on restricted supplies from producing belts mainly kept cardamom prices higher at futures trade.