Cardamom rise by 4% on rising demand

Cardamom prices climbed further and hit upper limit of 4% to Rs 757.40 per kg in futures trade today as speculators enlarged their positions, tracking a firm trend at spot market on rising demand.

 

Further, tight supplies in the physical market, on less arrivals from producing regions, following heavy rains also influenced the sentiment.

 

At the Multi Commodity Exchange, cardamom for delivery in August climbed further by Rs 29.10, or 4% to Rs 757.40 per kg in business turnover of 1903 lots.It had spurted by 4% in yesterday's trade.

 

Similarly, the spice for delivery in September contract gained Rs 4, or 0.52% to Rs 779.40 per kg in 170 lots.

 

Market analysts said apart from rising domestic and export demand in the spot market, tight supplies on less arrivals from producing regions mainly led an upsurge in cardamom prices, to hit upper limit for the second day at futures trade.