Cardamom futures gain 0.71% on rise in spot demand

Cardamom prices were trading up by 0.71 per cent at Rs 1,423.90 per kg in futures trade today as speculators enlarged their positions amid an upsurge in physical demand in the domestic spot market.
Furthermore, tight supplies from major producing regions also supported the upside in cardamom prices.
At the Multi Commodity Exchange, cardamom for delivery this month rose by Rs 10 or 0.71 per cent, to Rs 1,423.90 per kg with trading volume of 76 lots.
Similarly, spice for delivery in May high by Rs 5.30, or 0.40 per cent to Rs 1,324.90 per kg in 16 lots.
Traders said widening of positions 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.