Cardamom surges by 3% on high demand

Rising spot and exports demand against restricted arrivals from producing regions, mainly influenced prices

Cardamom futures rose nearly 3% to Rs 841.50 per kg in futures trade today as speculators enlarged positions driven by rising demand in spot markets amid thin arrivals.

At the Multi Commodity Exchange, cardamom for delivery in March rose by Rs 24.50, or 2.99%, to Rs 841.50 per kg, with a business turnover of 926 lots.

The delivery in February also up by Rs 22.50, or 2.86%, to Rs 809.20 per kg, with a trading volume of 677 lots.

Market analysts said rising spot and exports demand against restricted arrivals from producing regions, mainly influenced cardamom prices at futures market.