Cardamom up 2.7% on spot demand

Cardamom prices on Tuesday rose by Rs 26.80 or 2.65% to Rs 1,038 per kg in futures market after speculators widened their positions due to pickup in domestic as well as exports demand in the spot market.

At the Multi Commodity Exchange, cardamom for delivery in September rose by Rs 26.80 or 2.65% to Rs 1,038 per kg in a business turnover of 94 lots.

Similarly, spice for delivery in October gained Rs 25.10 or 2.51% to Rs 1,024.90 per kg in 15 lots.

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