Spot demand lifts cardamom futures by 0.85%

Cardamom prices were up by 0.85 per cent to Rs 1,353 per kg in futures trade today as speculators built up fresh position.

Besides, tight supplies from producing regions also supported the uptrend.

At the Multi Commodity Exchange, cardamom for delivery in December contracts rose by Rs 11.50 or 0.85 per cent to Rs 1,353 per kg with trading volume of 34 lots.

Similarly, spice for delivery January next year increased by Rs 10.20 or 0.73 per cent to Rs 1,389.90 per kg in 13 lots.

Traders said fresh positions created by participants, driven by surge in demand at the spot market against restricted supplies from producing regions mainly kept cardamom prices higher at futures trade.