Spot demand lifts cardamom futures by 1.42%

Cardamom prices were up by 1.42 per cent at Rs 1,386 per kg in futures trade today as speculators built up fresh position, tracking a firm trend at the domestic spot market.

Besides, tight supplies from producing regions also added support to the uptrend.

At the Multi Commodity Exchange, cardamom for delivery in January next year zoomed by Rs 19.40, or 1.42 per cent, to Rs 1,386 per kg with trading volume of 111 lots.

Similarly, spice for delivery in this month spurted by Rs 6, or 0.46 per cent, to Rs 1,290 per kg in 26 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.