Cardamom futures rise 0.69% on pick up in spot demand

Cardamom prices today rose by Rs 7.80, or 0.69 per cent, to Rs 1,138 per kg in futures market after speculators widened their positions supported by rising demand in the spot market.

Further, restricted supplies from producing regions and rising domestic as well as export demand in the spot market also fuelled the uptrend.

At the Multi Commodity Exchange, cardamom for delivery in November rose by Rs 7.80, or 0.69 per cent, to Rs 1,138 per kg, in a business turnover of 26 lots.

Similarly, spice for delivery in October gained Rs 7.60, or 0.68 per cent, to Rs 1,128 per kg in 22 lots.
 

Market analysts said besides rise in demand in the spot market, tight supplies from producing regions mainly helped cardamom prices to trade higher in futures trade.