Cardamom prices up by 1% on spot demand

Cardamom gained 1.02% to Rs 726.50 per kg in futures trade today as speculators enlarged their positions tracking a firming trend at 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 7.40, or 1.02%, to Rs 726.50 per kg in a business turnover of 151 lots.

Likewise, the spice for delivery in February edged up by Rs 5.70, or 0.75%, to Rs 765.40 per kg in 14 lots.

Analysts said speculators enlarged their positions, tracking a firm trend at the spot market on strong demand against tight supplies from producing regions which helped cardamom prices to trade higher at the futures trade.