Cardamom rises by 0.6% on spot demand

Cardamom rose 0.61% to Rs 720 per kg in futures trade today as speculators enlarged their positions, tracking a firming trend at the spot market on strong demand.

Besides, tight stocks position in the physical market following restricted supplies from major producing belts too supported the upside in prices.

At the Multi Commodity Exchange, cardamom for delivery in January 2016 rose by Rs 4.40, or 0.61%, to Rs 720 per kg in a business turnover of 27 lots.

Likewise, the spice for delivery in February edged up by Rs 3, or 0.39%, to Rs 759.70 per kg in five lots.
 

Analysts said speculators enlarged their positions, taking positive cues from domestic spot market on strong demand against tight supplies from producing regions which helped cardamom prices to trade higher at the futures trade.