Cardamom futures remain up on rising demand

Cardamom futures remained up for the second day and prices advanced by 2.18% to Rs 1,158.20 per kg today as speculators enlarged positions on the back of rising demand in the spot market.

Besides, tight stocks position in the physical market on restricted arrivals from producing belts supported the upside.

At the Multi Commodity Exchange, cardamom for delivery in March advanced by Rs 24.70, or 2.18%, to Rs 1,158.20 per kg in a business turnover of 82 lots.

Analysts said fresh positions created by speculators on the back of rising demand in the spot market mainly kept cardamom prices higher at futures trade.