Cardamom futures gain 3% on spot demand

Cardamom prices rose 3 per cent to Rs 1,045.20 per kg in futures trade today as speculators enlarged their positions amid an upsurge in demand at the domestic spot market.
Besides, tight supplies from major producing regions following below normal rains in Kerala also supported the upside in cardamom prices.
At the Multi Commodity Exchange, cardamom for delivery in August was trading higher by Rs 30.40, or 3 per cent, to Rs 1,045.20 per kg, with a trading volume of 24 lots.
Similarly, the spice for delivery in far-month September increased by Rs 27.90, or 2.95 per cent, to Rs 975 per kg in 3 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 in futures trade.