Uptick in demand lifts cardamom futures 1.47%

Cardamom prices were up by 1.47 per cent to Rs 796.30 per kg in futures trade today as traders built up fresh positions, taking positive cues from spot market on upsurge in demand.

Moreover, tight stocks position in the physical market following restricted supplies from major producing belts supported upside in cardamom prices.

At the Multi Commodity Exchange, cardamom for delivery in far-month February rose by Rs 11.50, or 1.47 per cent, to Rs 796.30 per kg in a business turnover of 325 lots.

Likewise, the spice for delivery in January edged up by Rs 2.70, or 0.34 per cent, to Rs 794 per kg in 265 lots.
 

Analysts said participants built up positions amid pick up in demand in the spot market against restricted supplies from producing belts, led to rise in cardamom prices at futures trade.