Cardamom up by 2.9% on rising demand

Restricted supplies from producing regions also helped prices

Amid uptick in domestic as well as exports demand in the spot market and restricted supplies from producing regions, cardamom prices shot up by 2.89% to Rs 814.50 per kg in futures trade today as participants enlarged positions.

Expectations of lower output also influenced cardamom prices.

At the Multi Commodity Exchange, cardamom for delivery in far-month June climbed Rs 22.90, or 2.89% to Rs 814.50 per kg in business turnover of 7 lots.

Likewise, the spice for delivery in May contracts traded higher by Rs 17.60, or 2.28% to Rs 788.30 per kg in 168 lots.

Market analysts said traders enlarged positions on the back of rising demand in the spot market against restricted supplies from producing regions mainly pushed up cardamom prices at futures trade.
 

Some exports enquiries also supported the upside, they said.