Cardamom up 1.7% on strong demand

Spice for delivery in February traded higher by 0.5%

Cardamom prices rose by 1.70% to Rs 734.50 per kg in futures trade today after participants built-up positions triggered by strong demand at the spot market on hopes of improved export demand.

At the Multi Commodity Exchange, cardamom for January contract rose by Rs 12.30, or 1.70%, to Rs 734.50 per kg with a trading volume of 18 lots.

The spice for delivery in February traded higher by Rs 3.80, or 0.53%, to Rs 713.90 per kg, with a business volume of 240 lots.

Market analysts said rising spot demand and expectations of pick up in export enquiries, mainly influenced cardamom prices at futures market.