Cardamom extend gains on rising demand, up 0.8%

Continuing its rising streak for the third straight day, cardamom prices were up by another 0.79% to Rs 839.90 per kg in futures trade today as participants engaged in increasing their positions, triggered by surging demand at the spot market.

At the Multi Commodity Exchange, cardamom for delivery in January month advanced Rs 6.60, or 0.79% to Rs 839.90 per kg in business turnover of 5 lots.

Likewise, the spice for delivery in far-month February contracts edged up by Rs 2.10, or 0.26% to Rs 820.60 per kg in 125 lots.

Market analysts said besides rising demand in the spot market, tight stocks position on restricted supplies from producing regions, kept cardamom prices higher at futures trade.