Cardamom futures gain 1.61% on firm demand

Cardamom futures prices rose by Rs 23.40 to Rs 1,478.80 per kg today as speculators enlarged their positions, supported by  strong demand in the spot market due to the ongoing marriage season.

Limited arrivals in the physical market also influenced cardamom futures prices.

At the Multi Commodity Exchange counter, cardamom for delivery in January rose by Rs 23.40, or 1.61 per cent, to Rs 1,478.80 per kg, with a business turnover of just two lots.

Similarly, the spice for delivery in February moved up by Rs 20.30, or 1.34 per cent, to Rs 1,538 per kg, with a trade volume of just one lot.

Traders said strong demand in the spot market triggered by marriage season, amid tight supply mainly pushed up cardamom futures prices.